ownership

  

Definition

The ultimate and exclusive right conferred by a lawful claim or title, and subject to certain restrictions to enjoy, occupy, possess, rent, sell, use, give away, or even destroy an item of property.

Ownership may be corporeal (title to a tangible object such as a house) or incorporeal (title to an intangible object, such as a copyright, or a right to recover debt). Possession (as in tenancy) does not necessarily mean ownership because it does not automatically transfer title.


Use ownership in a sentence

  • The ownership of the company changed hands once the gentleman acquired 51% of the company and new policies were implemented.

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  • Ownership of a vehicle and a home is an important determining factor when gauging a customer's economic standing and willingness to buy other things.

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  • Sometimes you may want to do something nice for the ownership of your company to try and get on their good side.

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