Who owns the intangible property?
In some cases ownership issues can be very complicated. There are two classes of ownership. A person may have more than one type of interest in a particular asset. • Legal ownership – some intangible property such as copyrights, patents, etc. can be protected from infringement. The degree of protection will depend on the country where protection is sought. Title to the intellectual property will be registered in the name of the legal owner. • Economic ownership (sometimes referred to beneficial ownership) – intangible property is created, and in most cases the creation is an expensive process. The rewards for exploiting the intangible property should accrue to the economic owner. A person who has rights over intellectual property, such that he can exploit and develop and use it in a way that a legal owner may, but who does not have legal title, enjoys economic ownership. For example, a multinational enterprise may set up a cost contribution scheme for research and development. A centra
