Meaning of Property Right

What is Property Law:

The property right is legal and immediate power that a person has to enjoy, dispose of and claim over an object or propertywithout affecting the rights of others or exceeding the limits imposed by law.

The property right covers all those material goods that can be appropriated, of use, of limited existence and that can be occupied.

That is to say, if a person owns a piece of land on which a field of sweet potatoes grows, consequently he owns the sweet potatoes that are harvested there and can do with them what he deems most convenient, that is, sell them, give them away or donate them, always within the framework that limits the law.

In some cases, these assets may belong to two or more people, which gives rise to the right to co-ownership, private property and collective property, as necessary.

On the other hand, one can speak of property rights from a general point of view and not only from the notion of ownership or authority that a person has over a thing. From the general point of view, the property right is the power that people have to take something that belongs to us.

However, from a legal point of view, the property right contains the direct power that a person has over an asset, granting him the power to dispose of the acquired object without restrictions. Consequently, the right to property is limited, in order to protect the common welfare and that of other people.

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Within the term property there are also assets that can be appropriated as an inheritance, the creation of a brand and patents, intellectual or literary property, among others. For example “My father left me his motorcycle as an inheritance”, “I patented the designs of my company’s logo”, “The content of that book is protected by intellectual property rights”.

See also the meaning of Law.

The property right is characterized by being:

  1. Perpetual because it will depend on the time of existence of the good.
  2. Exclusive because it can only be attributed to the owner or owners of the property.
  3. Limited in order to protect the common welfare, as stipulated by law.

intellectual property right

Intellectual property rights protect all those tangible or intangible assets conceived from the creativity of people, that is, literary works, names for commercial purposes, artistic works and images.

Intellectual property law has led to the promotion of creativity and innovation by people, since through this legislation it has sought to protect and promote copyright, trademarks, industrial designs and patents, plus protect economic remuneration that generate such assets.

See also: Copyright.

Industrial property law

It is a set of rights that seeks to protect product patents, the design of new products or services, the production process and industrial designs. It is also a right that protects trademarks or trade names.

private property law

The right of private property refers to the legal power that a person or company has over a good or thing and which they can dispose of and use according to their needs. Private property can be left as part of an inheritance.

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Property law in ancient Rome

Formerly the Romans did not have a word to define the term property in the judicial terms of Roman times. However, they used the term mancipium to designate Roman property and, later, the term dominium legitium and proprietors.

However, the term property evolved until it was recognized by civil law as chiritary domain which was later a reference to develop the term “protected property” by civil law.

It may interest you: Civil law.