ABSTRACT
Ownership is a bundle of rights that can be enforced. The rights may include
1. the right to use the property 2. the right to make decisions about the property 3. the right to appropriate any income from or products of
the property 4. the right to exclude others from the property 5. the right to transfer the property
When these rights have been defined for a particular segment of the world – a piece of land, a building, an idea or even a financial derivative, and when the defined rights are given to or taken by a person, group or corporate body, that segment of the world is a property.
