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Ownership is a moral condition existing because of an established relationship between an owner and an item of property. The fundamental characteristic of all ownership is its exclusive nature. When a property of any kind is owned in fact, the owner exercises complete control over that property in the sense that he is the only rightful decision-maker over it. ALL the rest of the world is excluded. We have already specified that property is anything that is subject to ownership. We have also shown that property can exist in a state of non-ownership, ownership, and in a state where a conflict exists over its ownership. What characteristics must a property have to be subject to ownership? There are three such characteristics. any item that lacks one or more of these characteristics is NOT a "property", and thus is not subject to ownership. The three characteristics are these: - Value
- Boundary
- Control
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