Exclusive right in the context of "Intangible asset"

In law, a prerogative is an exclusive right bestowed by a government or state and invested in an individual or group, the content of which is separate from the body of rights enjoyed under the general law. It was a common facet of feudal law. The word is derived from Old French prerogative (14c.), M.L. prerogativa "special right", from Latin praerogativa "prerogative, previous choice or election", originally (with tribus, centuria) "100 voters who by lot voted first in the Roman comitia", from praerogativus (adj.) "chosen to vote first".

The public domain (PD) consists of all the creative work to which no exclusive intellectual property rights apply. Those rights may have expired, be forfeit, waived or may be inapplicable. Because no one holds the exclusive rights, anyone can legally use or reference those works without permission.

As examples, the works of William Shakespeare, Ludwig van Beethoven, Miguel de Cervantes, Zoroaster, Lao Zi, Confucius, Aristotle, L. Frank Baum, Leonardo da Vinci and Georges Méliès are in the public domain either by virtue of their having been created before copyright existed, or by their copyright term having expired. Some works are not covered by a country's copyright laws, and are therefore in the public domain; for example, in the United States, items excluded from copyright include the formulae of Newtonian physics and cooking recipes. Other works are actively dedicated by their authors to the public domain (see waiver); examples include reference implementations of cryptographic algorithms. The term public domain is not normally applied to situations where the creator of a work retains residual rights, in which case use of the work is referred to as "under license" or "with permission".

Copyright infringement (at times referred to as piracy) is the use of works protected by copyright without permission for usage where such permission is required, thereby infringing certain exclusive rights granted to the copyright holder, such as the right to reproduce, distribute, display or perform the protected work, or to produce derivative works. The copyright holder is usually the work's creator, or a publisher or other business to whom copyright has been assigned. Copyright holders routinely invoke legal and technological measures to prevent and penalise copyright infringement.

Copyright infringement disputes are usually resolved through direct negotiation, a notice and take down process, or litigation in civil court. Egregious or large-scale commercial infringement, especially when it involves counterfeiting, or the fraudulent imitation of a product or brand, is sometimes prosecuted via the criminal justice system.

Fair dealing is a limitation and exception to the exclusive rights granted by copyright law to the author of a creative work. Fair dealing is found in many of the common law jurisdictions of the Commonwealth of Nations.

Fair dealing is an enumerated set of possible defences against an action for infringement of an exclusive right of copyright. Unlike the related United States doctrine of fair use, fair dealing cannot apply to any act which does not fall within one of these categories, although common law courts in some jurisdictions are less stringent than others in this regard. In practice, however, such courts might rule that actions with a commercial character, which might be naïvely assumed to fall into one of these categories, were in fact infringements of copyright, as fair dealing is not as flexible a concept as the American concept of fair use.