ABSTRACT
This chapter introduces the theory of property in the context of CBNRM and wild resources. It describes the function of property, the definition of property as a bundle of goods, as well as the confusion between goods, ownership regimes, and owners. The author concludes that wild resources are rivalrous and excludable to a significant extent, and are incorrectly defined as public goods. They are private goods with some common pool features and global values, and not well matched to public management. Therefore, wild resources need new systems of governance that combine privatisation and collective self-management. These principles inform the governance of wild resources in the context of decentralisation and public management.
