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What can you own?Personal Property (objects)Personal property is a type of property. In the common law systems personal property may also be called chattels. Under the common law, the only way to gain title to chattels was by writing one's name on them with a permanent marker. It is distinguished from real property, or real estate. In the civil law systems personal property is often called movable property or movables - any property that can be moved from one location or another. This term is in distinction with immovable property or immovables, such as land and buildings. Personal property may be classified in a variety of ways, such as goods, money, negotiable instruments, securities, and intangible assets including choses in action. Land OwnershipReal estate or immovable property is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings. Real estate (immovable property) is often considered synonymous with real property (also sometimes called realty), in contrast with personal property (also sometimes called chattel or personalty). However, for technical purposes, some people prefer to distinguish real estate, referring to the land and fixtures themselves, from real property, referring to ownership rights over real estate. The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property.
With the development of private property ownership, real estate has become a major area of business. Corporations and Legal EntitiesAn individual or group of individuals can own corporations and other legal entities. A legal entity is a legal construct through which the law allows a group of natural persons to act as if it were an individual for certain purposes. Some companies and entities are owned privately by the individuals who registered them with the government while other companies are owned publicly. A public company is a company owned by any member of the public who wishes to purchase stock in that company rather than by a relatively few individuals. A company that is owned by stockholders who are members of the general public and trade shares publicly, often through a listing on a stock exchange. Ownership is open to anyone who has the money and inclination to buy shares in the company. Owners, however, are generally classified in three groups. Those with 5% Ownerships of the stock usually hold significant sway over the company. Mutual Funds and regular institutions can also own the stock; if they own enough, can are considered as part of the 5% ownership category. They usually are differentiated from privately held companies where the shares are held by a small group of individuals often members of one or a small group of families or otherwise related individuals (or other companies). For a discussion of the British and Irish variant of this type of company, see public limited company. Intellectual PropertyIntellectual (IP) property refers to a legal entitlement which sometimes attaches to the expressed form of an idea, or to some other intangible subject matter. This legal entitlement generally enables its holder to exercise exclusive rights of use in relation to the subject matter of the IP. The term intellectual property reflects the idea that this subject matter is the product of the mind or the intellect, and that IP rights may be protected at law in the same way as any other form of property. Intellectual property laws confer a bundle of exclusive rights in relation to the particular form or manner in which ideas or information are expressed or manifested, and not in relation to the ideas or concepts themselves (see idea-expression divide). It is therefore important to note that the term "intellectual property" denotes the specific legal rights which authors, inventors and other IP holders may hold and exercise, and not the intellectual work itself. Intellectual property laws are designed to protect different forms of intangible subject matter, although in some cases there is a degree of overlap.
Patents, trademarks and designs fall into a particular subset of intellectual property known as industrial property. Like other forms of property, intellectual property (or rather the exclusive rights which subsist in the IP) can be transferred (with or without consideration) or licensed to third parties. In some jurisdictions it may also be possible to use intellectual property as security for a loan. The basic public policy rationale for the protection of intellectual property is that IP laws facilitate and encourage disclosure of innovation into the public domain for the common good, by granting authors and inventors exclusive rights to exploit their works and invention for a limited period. However, various schools of thought are critical of the very concept of intellectual property, and some characterise IP as intellectual protectionism. There is ongoing debate as to whether IP laws truly operate to confer the stated public benefits, and whether the protection they are said to provide is appropriate in the context of innovation derived from such things as traditional knowledge and folklore, and patents for software and business methods. Manifestations of this controversy can be seen in the way different jurisdictions decide whether to grant intellectual property protection in relation to subject matter of this kind, and the North-South divide on issues of the role and scope of intellectual property laws. Chattel SlaveryThe living human body is, in most modern societies, considered something which cannot be the property of anyone but the person whose body it is. This is in contradistinction to chattel slavery. Chattel slavery is a type of slavery defined as the absolute legal ownership of a person or persons, including the legal right to buy and sell them. The slaves do not have the freedom to live life as they choose, but as they are instructed by their owners. In most countries, chattel slaves are considered as movable property. Slavery almost always occurs for the purpose of securing the labour of the slave. Slavery is currently illegal in every country around the world, however, up until the 19th century slavery and ownership of people had existed in one form or another in nearly every society on earth. Who Can Own Property?Personal OwnershipIn Western societies both men and women can own property, however, in some societies only adult men may own property. In other societies (such as the Haudenosaunee), property is matrilinear and passed on from mother to daughter. Ownership by Corporations and Legal EntitiesLegal entities, such as corporations, trusts, partnerships, religions, and nations (or governments) can own property in various societies past and present. Although corporations and other legal entities are owned or controlled by individuals or groups of individuals they are allowed to own their own property just as natural people are able to. The advantage in placing the ownership of an asset in the name of an entity is that the asset is protected from law suits against the owner of the entity. If the owner of the entity is personally sued the asset cannot be taken in the law suit. When there is risk involved in the ownership of an asset as in the case of investment real estate the ownership of that asset is often made in the name of a corporate entity. Real estate property investors often form a corporation or other entity for the sole purpose of purchasing a single building. Rather than buying the building in the investor's personal name the investor will place the corporations' name on the deed. Since the corporation is a separate entity in the eyes of the law if a tenant is hurt on the premises and sues the owner of the building they are suing the corporation and not the investor. This protects the investor from losing many properties from one law suit. Communal OwnershipCommunal ownership of property occurs when a group of people share the ownership of property amongst each other. Any and every member of the group is free to use the property when they want but also those individuals agree to allow all others in the group to use the property when that person wants. Although communal ownership of property is not as widespread as individual ownership of property both forms of ownership exist in most societies. In America, for example, national parks and publicly owned buildings such as libraries are communally owned by all Americans. In New York City a common form of real estate ownership is a cooperative (also co-operative or co-op). A co-op is a group of persons who join together, or co-operate, to own a building for mutual benefit. In an ideal communist nation the means of production of goods would be owned communally by all people of that nation. One criticism of the concept of communal ownership is the Tragedy of the Commons where unrestricted access to a resource such as a pasture ultimately dooms the resource because of over-exploitation. This occurs because the benefits of exploitation accrue to individuals, while the costs of exploitation are distributed between all those exploiting the resource. This criticism has merit if the resource is permitted, by the community, to be exploited by the individual. Social Consequences of ownershipIn modern Western popular culture some people (principally among the political left) believe that exclusive ownership of property underlies much social injustice, and facilitates tyranny and oppression on an individual and societal scale. This is said to be because the exclusive element of ownership is essentially non-inclusive, divisive, and therefore is held be unjust. Proudhon said that "Property is theft". Others consider the striving to achieve greater ownership of wealth as the driving factor behind much human technological advancement and increasing standards of living. Ownership SocietyOwnership society is a slogan for a model of society promoted by United States President George W. Bush. It takes as lead values personal responsibility, economic liberty, and the owning of property. The ownership society discussed by Bush also extends to certain proposals of specific models of health care and social security. Critics have claimed that Bush's agenda for an ownership society also includes extending tax cuts, allowing wealthy Americans to shelter income from tax, and using the tax code to curtail the government's role in health care and retirement saving. Some say that the ultimate purpose of these proposals is the abolition of the graduated income tax, a progressive tax, and its replacement with a structurally simpler flat tax. Societies Without OwnershipA modern myth is that some societies, notably Native American ones, appeared to exist without the concept of personal ownership. Members of a society would feel free to take any objects they had need of, and expect them to be taken by others.[citation needed] Recently, however, researchers have started to question just how collectivist Native American societies really were. Citing earlier studies done by anthropologists and historians "who were able to interview tribal members who had lived in pre-reservation Indian society," they argue that in fact, "most if not all North American indigenous peoples had a strong belief in individual property rights and ownership." [1] These researchers further assert that Native American collectivism is a myth originating from the first encounters with tribes who, because of their hunting-orientation "did not view land as an important asset", and indeed, did not have a private property system with regards to land. The collectivist myth was initially propagated by reporters and politicians who never actually had contact with Native Americans and then made into a reality by the collectivist property rights system forced on Indians by the 1934 Indian Reorganization Act. Vedantic View of Ownership Indian spiritual science called Vedanta believes that the root of ownership is the feeling that one is separate from rest of the universe. Given this understanding, one disconnects oneself from the universe, and then attempts to reconnect with objects through a relationship which is called ownership. Vedanta believes that the feeling of ownership is an illusion, which remains with oneself as long as one considers oneself as separate from the Universe. When one understands the fundamental reality that there is only one entity called the Universe, there is no need for ownership and one gets rid of this illusion. See alsoid:Kepemilikan ja:所有権 pl:Własność sl:Imetnik fi:Omistusoikeus vi:Sở hữu zh:所有权
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