This paper defends the view that common nouns have a dual semantic structure that includes extension-determining and non-extension-determining components. I argue that the non-extension-determining components are part of linguistic meaning because they play a key compositional role in certain constructions, especially in privative noun phrases such as "fake gun" and "counterfeit document". Furthermore, I show that if we modify the compositional interpretation rules in certain simple ways, this dual content account of noun phrase modification can be implemented in a type-driven formal semantic framework. In addition, I also argue against traditional accounts of privative noun phrases which can be paired with the assumption that nouns do not have a dual semantic structure. At the most general level, this paper presents a proposal for how we can begin to integrate a psychologically realistic account of lexical semantics with a linguistically plausible compositional semantic framework.