General Intangible | Practical Law

General Intangible

General Intangible

Practical Law Glossary Item 1-382-3508 (Approx. 3 pages)

Glossary

General Intangible

Defined in the UCC as any personal property, including things in action, other than:

Accounts.
Chattel paper.
Commercial tort claims.
Deposit accounts.
Documents.
Goods.
Instruments.
Investment property.
Letter-of-credit rights.
Letters of Credit.
Money.
Oil, gas, or other minerals before extraction.

The term includes payment intangibles and software (UCC § 9-102(a)(42)).

A general intangible is an asset type over which an entity can grant a security interest under Article 9 of the UCC. For more information on taking a security interest over general intangibles, see Practice Note, UCC Creation, Perfection, and Priority of Security Interests.