Definition of business property

generally for tax purposes, any property used in a trade or business that is not a capitalasset. This would include assets specifically excepted from capital asset status, such as:

1. inventory.
2. property held for sale to customers in the ordinary course of business.
3. trade receivables from the sale of property or services in the normal course of business.
4. depreciable personal property used in a trade or business.
5. real property used in a trade or business.
6. intangible assets such as a copyright or trademark.