What Are the Three Categories of Restrictive Covenants Mentioned in the Chapter

question 14

Essay

What are the three categories of restrictive covenants mentioned in the chapter, in relation to loan agreements?

---

Definitions:

Intangible Asset

Assets that do not have physical substance but hold value for a business, such as patents, trademarks, and goodwill.

Tangible Asset

Physical and material assets that possess value, such as machinery, buildings, and inventory.

Goodwill Asset

An intangible asset that represents the excess value of a purchased company over the fair value of its identifiable tangible and intangible assets.

Copyrights

Legal rights given to the creator of original works, protecting them against unauthorized reproduction or distribution for a certain period.