What is private and public property definition/cocnept

The idea of ​​ownership refers to a person’s right to use something exclusively. Therefore, it is a primary right from which other rights derive. In any case, the right of ownership means that possession of something is intended for the owner’s use and that this use is protected by law. private and public property

The right of ownership is considered a legal recognition, in which an individual’s assets are legally recognized and this recognition allows the owner to manage his assets in the way he considers most opportune, for example, he can sell, exchange or simply keep.

The idea of ​​property understood as belonging or possession of something can be approached in several senses and dimensions; for this reason we speak of intellectual, industrial, horizontal or usufruct property. However, there are two differentiated general realities: public and private.

Private propriety

The concept of private property is subject to permanent change, as something you own can be sold and therefore ownership of the property can change from one person to another. private and public property

If the right of private property over the means of production did not exist, it would be practically impossible to carry out any economic activity  , for example, the cost-benefit analysis allows the acquisition of a new property.

From a political and economic point of view, the idea of ​​private property is essential. In fact, the capitalist system is based on the defense of private property as a basic right, while the communist system aims at the abolition of private property in the means of production and, consequently, the implementation of collective property.

public property

When ownership of a property belongs to the state, it is referred to as public property. private and public property

This idea is based on a general principle: certain goods and services must belong to society as a whole and their appropriation is not convenient to be in private hands. In other words, public ownership is considered an approach that fulfills a social function . And for this to be possible, the state must protect public goods.

Both senses of ownership are compatible

The right to private property does not prevent the recognition of public property. In this line, in all national states, the right to private property and, at the same time, the ownership of certain services by the state are compatible. private and public property

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