Ownership

Short Description

Ownership is a relationship between two entities in which one of these entities (called the owner) is entitled to enjoy, dispose of, and control the other entity in an pretty much absolute (sovereign) fashion. Any ownership relationship is grounded in ((the rules of) the legal system of) a specific jurisdiction, that maintains and enforces these rules, and that has means to resolve any disputes arising from that. To do this, both entities must be legal entities in that jurisdiction.

We may use the phrase natural ownership to refer to an ownership relation that exists in the jurisdiction 'Nature' (see the notes of jurisdiction). This enables us to talk about things as 'the (natural) ownership of an assertion'.

Purpose

Ownership is a means by which jurisdictions provide assurances to parties (within its scope) that they can enjoy, dispose of and control in pretty much any way they like. The legal system of the jurisdiction specifies these rights, and provides ways in which the owner can exercize them (that provides the assurance).

Criteria

An ownership is a relationship between two legal entities (called the owner and the owned) within a single jurisdiction, whose legal system defines and enforces (a) rules that recognize the power of the owner to enjoy, dispose of and control the owned in an absolute (sovereign) fashion, and (b) rules that limit the absoluteness of that power.

Related Concepts

Notes

  • Owning something does not imply posessing it (and vice versa). For example, if you find a coin that doesn't belong to you, you possess it but do not own it. Also, its rightful owner obviously owns it, but doesn't possess it at that point in time.
  • Ownership has no meaning outside of a jurisdiction that defines and enforces the rights and duties of the owner to enjoy, dispose of, and control the owned.