General intangible - sustany/dvg GitHub Wiki

A general intangible is the term for a non-physical asset that�is not easily calculated.�Examples include literary rights,�things in action, and�goodwill.�General intangibles are particularly relevant when dealing with�secured transactions.

As defined by the UCC, general intangibles include any personal property - except for money, documents, investment property, instruments,�goods,�accounts,�chattel paper, proceeds from letters of credit, and oil, gas, or other minerals before extraction.�

Like other assets, a party can have a security interest in general intangibles. For example, in Ciprian Ltd. V. Oxford Dev. Co. Grant St., L.P. creditors were entitled to proceeds from the sale of a debtor�s liquor license, a general intangible.�