Ownership

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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

  1. let me Google that for you.
  2. 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.”
  3. That is, an asset that is capable of being owned.