abandonment

The action of relinquishing all title,rights of claims to an asset or property completely and intentionally by the legally owner to a next owner.

The abonnement could be with the tangible assets for example:

1. Real estate.
2. Machinery.
3. Stock.
4. Bonds.

And for the intangible assets such as:

1. Patents.
2. Trademarks.
3. Franchises.
4. Goodwill.
5. Copyrights.

Elements of Abandonment

1. Act- abandonment must be done actually, through physical manifestations and not merely verbal or mental.

2. Intention- the intention to abandon must be present. It must be voluntary and not forced.