I argue that perceptual content involves representations both of aspects of objects, and of objects themselves, whether at the level of conscious perception, or of low-level perceptual processing—a double content structure. I present an 'orientational' theory of the relations of the two kinds of perceptual content, which can accommodate both the general semantic possibility of perceptual misrepresentation, and also species of it involving characteristic perceptual confusions of aspectual and intrinsic content. The resulting theoretical structure is argued to be a broadly methodological or logical one, rather than a substantive theory that is open to empirical refutation.