private property
"Private property" is a key concept in property law and economics, referring to assets owned by individuals or private entities, as opposed to public or state ownership.
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Definition
C1Law
(legal, formal)Assets owned by individuals or entities, with exclusive rights of use and control.
Example
- The house is considered private property and cannot be accessed without permission.
- Private property rights are protected under the constitution.
C1Economics
(academic, technical)Resources owned by private individuals or corporations, not by the government or community.
Example
- The concept of private property is fundamental to a capitalist economy.
- Private property includes both physical assets like land and buildings, and intangible assets like patents.
Similar
Terms that have similar or relatively close meanings to "private property":
private meansqualified propertyprivate first classgeneric propertyproperty lawprivate languageproperty manpublic accessprivate carprivate message