ownershipˈoʊ nərˌʃɪp
ownership (n)
English Definitions:
ownership (noun)
the relation of an owner to the thing possessed; possession with the right to transfer possession to others
possession, ownership (noun)
the act of having and controlling property
ownership (noun)
the state or fact of being an owner
ownership (Noun)
The state of having complete legal control of the status of something.
Ownership
Ownership of property may be private, collective, or common and the property may be objects, land/real estate, or intellectual property. Determining ownership in law involves determining who has certain rights and duties over the property. These rights and duties, sometimes called a 'bundle of rights', can be separated and held by different parties. The question of ownership reaches back to the ancient philosophers, Plato and Aristotle, who held different opinions on the subject. Plato thought private property created divisive inequalities, while Aristotle thought private property enabled people to receive the full benefit of their labor. Private property can circumvent what is now referred to as the “tragedy of the commons” problem, where people tend to degrade common property more than they do private property. Given a short-sighted owner, however, a private property system can make these tragedies worse—for example, a private owner of a piece of oil-rich property, depending on his worldview, might be more interested in short-term financial gain than incremental use with an eye toward other's concerns. While Aristotle justified the existence of private ownership, he left open questions of how to allocate property between what is private and common and how to allocate the private property within society.
Ownership
Ownership is the state or fact of exclusive rights and control over property, which may be an object, land or real estate, or intellectual property. Ownership involves multiple rights, collectively referred to as title, which may be separated and held by different parties. The process and mechanics of ownership are fairly complex: one can gain, transfer, and lose ownership of property in a number of ways. To acquire property one can purchase it with money, trade it for other property, win it in a bet, receive it as a gift, inherit it, find it, receive it as damages, earn it by doing work or performing services, make it, or homestead it. One can transfer or lose ownership of property by selling it for money, exchanging it for other property, giving it as a gift, misplacing it, or having it stripped from one's ownership through legal means such as eviction, foreclosure, seizure, or taking. Ownership is self-propagating in that the owner of any property will also own the economic benefits of that property.
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"ownership." Kamus.net. STANDS4 LLC, 2024. Web. 20 Apr. 2024. <https://www.kamus.net/english/ownership>.
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