Inventory, or stock in trade, is important to retailers, wholesalers and those who extend credit to either group. Some stock in trade is computer programs embedded on disks, as anyone who has bought an "Oregon Trail" or "Sim City" compact disk at Wal-Mart knows. Some stock in trade is heavy equipment, such as computer-guided lathes sold by a manufacturer. We often think of all such stock in trade as "inventory." A revision to Nebraska’s statutes will change that, at least in legal parlance.
Analyzing this important change in the law requires some background about "embedded" computer programs. Sometimes computer programs are "embedded" in tangible property such as a new lathe or tractor. When one purchases the lathe or tractor, one assumes one also is acquiring the embedded computer program.
