2.0 PROPERTY Flashcards
REAL PROPERTY
Land and things attached to land
- Land
a. Fee simple
b. Oil, gas, mineral rights - Buildings
- Fixtures
PERSONAL PROPERTY
An item can change from being one to another
- Tangible (chattels)
- Intangible
a. Intellectual property (trade secrets, copyright, patents, trademarks, industrial design)
b. Licenses and royalty rights
FEE SIMPLE
Real property
Greatest right an individual can have in real property
Includes right to sell, lease, occupy, mortgage
Can be held jointly
Mines, minerals, oil and gas - free vs. Crown
Real property
Crown minerals: minerals not transferred to private owner (retained by provincial or federal government)
Freehold minerals: minerals transferred eg. CPR, Hudson Bay co., early settlers
right to resources (includes right to access land and extract minerals) generally excluded from fee simple rights
How to register real property
Torrents system (SK)
Certificate of title
Registered through ISC (info service Corp)
Lease
Exclusive right to occupy property
Mortgage
Use property as security for a debt or line of credits
Easement
Right to use property in some way eg. Road
Restrictive covenant
Puts conditions of use on property
License
Provides contractual right to use property in some way
Profit a prendre
Right to extract value eg. Gravel
Lien
Statutory right to register a debt against land eg. Construction
Chattels
Personal property
Tangible
Goods
Eg. Car, cellphone
No registry for ownership, only register for security purposes
SK Personal Property Registry
Intellectual property
Protects EXPRESSION of ideas
Can be viewed as bundle of rights
Governed by federal legislation and international treaties
Copy right
Intellectual property
Protects works
Eg. COMPUTER SOFTWARE, ENG DRAWINGS
term of protection in Canada = 50 years
Can be contractually assigned (sold or licensed)
Moral rights can’t be assigned but can be contractually waived
Protection not dependent upon registration
Patents
Intellectual property
Protects INVENTIONS
eg. Process, machine, improvements
Inventions must be new and useful
No protection without registration or if publicly disclosed before registration
Term of protection in Canada = 20 years (non renewable)
Trademarks
Intellectual property
Protects marks used to distinguish goods or services
Eg. Coke
Must be distinctive and actually used to be registerable
Registration gives the right to exclusive use of trademark throughout Canada
Term of protection 10 years, renewable
Industrial designs
Intellectual property
Protects shapes, configuration, and look of mass produced items
protection 10 years
Integrated circuit technologies
Protects DESIGN OF INTEGRATED CIRCUITS in electronic equipment
Has to be registered to be protected
Protection 10 years
