Property
Definition
Property refers not only physical possessions but also includes other forms like intellectual property. It represents one’s legal right over things they own and control them according to their will within legal boundaries.
Analogy
Consider property like your personal smartphone. You have full control over it - you decide what apps go in it and how it should look. But if you use it for illegal activities, there are laws that can limit your control over it.
Related terms
Eminent Domain: This is the power of a state or national government to take private property for public use.
Intellectual Property: These are legal rights that result from intellectual activity in the industrial, scientific, literary and artistic fields.
Fifth Amendment Rights: This amendment protects individuals from being deprived of life, liberty or property without due process of law.
"Property" appears in:
Subjects (2)
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