Equipment - General
Equipment is defined as a non-expendable capital item of movable or personal property with the following characteristics:
- costs $5,000 or more per unit
- has a useful life expectancy of one year or more
- is complete in itself and will retain its identity as a separate item
- will not be expended or consumed in research
Delivery as an end-item or incorporation into a system to be delivered as an end-item does not change this definition as long as all of the previously stated criteria are met.
Note: The term property is often used in project administration to denote ownership of equipment; e.g., federal property, sponsor property, state property, institutional property (property under the administrative oversight of The Ohio State University).