What are property rights?

Property rights are legal protections that give individuals and organizations ownership of certain physical or intellectual assets.

Property rights enable individuals to own houses, land, businesses, intellectual property such as copyrights, trademarks, and patents.

Property rights allow people to decide how to use their assets without interference from the government or other individuals.

Property rights protect individuals from having their assets taken away without just compensation.

Property rights also provide individuals with the ability to transfer, sell, or lease their assets to other parties.

Property rights are essential for economic growth and development, as they encourage individuals to create, innovate, and invest in their assets.

Property rights also provide individuals with legal recourse if their assets are infringed upon or wrongfully taken away.

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