Firm is a term that describes a business name under which a specific enterprise performs. It is thus the designation of the company, it is an intangible asset. In practice the term firm is often wrongly confused with the concept of enterprise, which refers to a set of tangible, including personal, and intangible components of the business.
Use of the firm in practice: Firm as a designation is part of the enterprise. For this reason, the firm is not separately transferable, but only in conjunction with the enterprise.