Incorporeal rights are rights that can't be seen or touched, but are still enforceable by law.

Generally incorporeal rights have to do with intangible property such as copyrights, licenses and
easements. Unlike real property that can be physically quantified, intangible property is conceptual in
nature. However, the rights associated with intangible property the incorporeal rights are just as valid as
the rights associated with real property.1 Clearly, the advertising rights enjoyed by MRTDC based on the
BLT Agreement is an incorporeal right in relation to its Development Rights.

With the foregoing, it must also be noted that immovable or real property includes contracts for
public works, and servitudes and other real rights over immovable property.2 Considering the same, the
incorporeal right of advertising of MRTDC is a real property that is correspondingly exercised with the
lease of the property.

1
http://www.investopedia.com/terms/i/incorporeal-rights.asp#ixzz4KfYms000
2
Art. 415 Sec.10 of the Civil Code of the Philippines. (Emphasis supplied.)