Property

Property refers to something owned, whether it's real estate, personal possessions, intellectual rights, or a specific characteristic. It encompasses both tangible items and intangible rights that are subject to legal ownership. It's a fundamental concept in law and economics, determining rights of possession, usage, and transfer. property can be acquired through purchase, inheritance, creation, or other legal means and serves as a basis for wealth, security, and individual autonomy.

Property meaning with examples

• The couple purchased a beautiful lakeside property, complete with a dock and a large garden. They planned to renovate the existing house and enjoy their retirement years in the peaceful setting, investing a substantial amount of their savings in the acquisition.
• After her grandfather's passing, she inherited a valuable property: his antique watch collection. She decided to sell a few of the watches to cover her student loan debt, appreciating the sentimental value attached to each piece.
• The company's most valuable property was its intellectual property – its patented technology and copyrighted software. They meticulously protected these assets from infringement to maintain their competitive edge in the market and secure their market share.
• Honesty and integrity are essential properties of a trustworthy leader. These crucial traits influenced decisions, earning respect and building a strong team based on shared values and fostering a positive work environment.