What Is Ownership and Control in Law

por lucasvictor

16 de abril de 2022

Ownership, by definition, does not necessarily imply liability to others for actions related to ownership. A “legal shield” is supposed to exist if the legal responsibilities of the company are not redistributed among the owners or members of the company. An application of this measure to limit ownership risks is to form a new entity (for example. B a mailbox company) to purchase, own and operate each property. Because the entity is separate and separate from the others, if a problem arises that leads to massive liability, the person is protected against the loss of more than the value of that property. Many other properties are protected if they belong to other different companies. Personal property is a type of property. In common law systems, personal property can also be called movable property. It`s different from real estate or real estate.

In civil law systems, personal property is often referred to as movable property or movable property – any property that can be moved from one place or another. This term is used to distinguish properties that are different from real estate or real estate such as land and buildings. It also means that the direct owner of the objects has full control over them until they are stolen, seized by law enforcement or destroyed. In modern Western politics, some people believe that exclusive ownership of property underlies much social injustice and facilitates tyranny and oppression on an individual and societal level. Others see the pursuit of greater ownership of wealth as the driving force behind humanity`s technological progress and rising living standards. Right-wing libertarians support the latter view, and moreover, they also believe that property is necessary for freedom itself. The living human body is considered in modern societies as something that cannot be peculiar to anyone other than the person whose body it is. Its opposite, in which the person in the body does not own his body, is slavery. Slavery has been defined as the absolute legal property of a person, including the legal right to buy and sell it. Those thus enslaved did not have the freedom to direct their own actions, and their legal rights were either severely restricted or non-existent. The prewar period in the United States is considered the worst for mobile slave exploitation, as well as the place where the practice generated such fierce resistance and support that it led to the Civil War.

Given the above reasons, shareholder passivity is not only inevitable, but also a necessary path for the overall well-being of the company. Based on Berle and Means` theory, proponents argue that the most effective corporate governance cannot work in a system where shareholders control management. When the nature of the assets changed with the separation of ownership and control, the risk of loss also changed. Shareholders and management have developed different and sometimes competing feelings of risk. In the most vague sense of group ownership, a lack of legal framework, rules and regulations may mean that collective ownership of each member`s property places it in a position of responsibility (responsibility) for the actions of any other member. A structured group duly constituted as a legal entity under the law still cannot protect members from personal liability for each other`s actions. Court decisions against the company itself may result in unlimited personal liability for each individual member. An example of this situation is a professional partnership (i.B. law firm) in some jurisdictions. Therefore, membership as a partner or owner of a group may bring little benefit in terms of shareholding while presenting a high risk for the partner, owner or participant.

The process and mechanics of ownership are quite complex: you can win, transfer and lose property in different ways. To acquire a property, one can buy it with money, exchange it for other goods, win it in a bet, receive it as a gift, inherit it, find it, receive it as damage, win it by work or the provision of services, make it or property. One can transfer or lose ownership of a property by selling it for money, exchanging it for other property, giving it as a gift, misplacing it, or having it removed from its property by legal means such as eviction, foreclosure, confiscation, or removal. .