Final answer:
The incorrect statement about copyrights is that copyrightable material may be in tangible or intangible form. Copyright law requires that the work is fixed in a tangible medium of expression.
Step-by-step explanation:
The question asks which statement about copyrights is incorrect. Looking at the options provided: a. Copyright is a form of intellectual property protection, which is correct; b. The 1976 Copyright Act governs copyright law in the United States, this is also correct; c. Businesses typically possess a treasure trove of copyrightable material, which tends to be true; and d. Copyrightable material may be in tangible or intangible form, which is incorrect.
According to U.S. Copyright law, an original work of authorship must be "fixed" in a tangible form of expression for copyright protection to apply, meaning the work must be perceptible and reproducible from a medium that allows it to be communicated.