Ownership
Where does one start? Well, not with Google’s definition, which fluffs it entirely.[1] “Ownership”, it says, is “the act, state, or right of possessing something”. Well, only in the limited sense of the word “possession” — the sense in which it means ownership. So that’s a tautological definition. For it is quite possible to possess something one does not own: if I borrow your tennis racquet, I possess it, but you own it. I can possess your tennis racquet without it being my possession, though — that is the limited sense, meaning ownership.
Merriam-Webster is not much better. “Ownership” is “the state, relation, or fact of being an owner.” We thank you for writing in.[2]
In the legal sense, “ownership” is holding the legal title and the equitable benefit of some property [3] Not everything can be property: data that falls short of intellectual property, for example, and, arguable cash (being an abstract token of value and not a corporeal thing per se).
Possession and ownership
Data, intellectual property and ownership
Cash and ownership
Beneficial ownership
References
- ↑ let me Google that for you.
- ↑ In fairness, the definition of owner is a lot better: “a person who owns something; one who has the legal or rightful title to something; one to whom property belongs.”
- ↑ That is, an asset that is capable of being owned.