Ownership is the state or fact of exclusive rights and control over
property, which may be an object, land/real estate, intellectual property or
some other kind of property. It is embodied in an ownership right also
referred to as title.
Ownership is the key building block in the development of the capitalist
socio-economic system. The concept of ownership has existed for thousands of
years and in all cultures. Over the millennia, however, and across cultures
what is considered eligible to be property and how that property is regarded
culturally is very different. Ownership is the basis for many other concepts
that form the foundations of ancient and modern societies such as money,
trade, debt, bankruptcy, the criminality of theft and private vs. public
property.
The process and mechanics of ownership are fairly complex since 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, receive it as a gift, steal it, find it, 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, being robbed of it,
misplacing it, or having it stripped from one's ownership through legal
means such as eviction, foreclosure and seizure. Ownership is
self-propagating in that if an object is owned by someone, any additional
goods produced by using that object will also be owned by the same person.
If one finds an object, one can legitimately take ownership of that object
as long as no one claims to have previously lost that object. Some
jurisdictions place time restraints on finding lost property before that
property becomes fair game for anyone to claim ownership of once found. Such
is the case of the gold found in the sunken SS Republic. The SS Republic
steamship sank off the coast of Georgia in 1865 and lost thousands of gold
coins and bars to the ocean. In 2003 Odyssey Marine Exploration, Inc.
discovered the ship and was awarded possession of the gold after the
insurance company that had paid off damages to the original owners claimed
they were the rightful owners of the gold.
From:
Wikipedia
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OWNERSHIP