Tangible personal property represents a set of rights and interests but has no real physical existence.

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Tangible personal property refers to physical items that can be seen, touched, and moved, such as cars, furniture, and money. Intangible personal property, on the other hand, represents a set of rights or interests that have value but do not have a physical existence, such as patents, copyrights, and trademarks.

Tangible Personal Property Represents a Set of Rights and Interests