Property is about the relationship between agents and things (resources or a processes). These relationships are institutionalized, meaning that they are codified as norms or rules or laws, are made public and are widely accepted by everyone in a social setting.

As Jeremy Bentham pointed out, property is not an object or thing, but a relationship: the bundle of rights and obligations which connect the subject individual to an object, such as land (real property) or increasingly, knowledge (intellectual property). While there are many types of rights and obligations, this proposal identifies four key classes of stakeholder rights:

Use – exclusive or otherwise
Usufruct – the fruits of use
Management
Custody – stewardship.

Property also has its psychological roots as attachment, possessiveness, security, need of control, self-identity, personal investment (time, energy, skills), sense of belonging, etc. People seek to satisfy their primary psychological needs by forming relations with other people concerning the access, use or control of things. These relations can also be formalized as between individuals and abstractions, such as the State. Once formalized as norms, rules or laws, they essentially instantiate rights of individual(s) over a thing. The notion is intimately related to the notion of responsibility, which speaks about limitations in exercising our rights over a thing.

Types of goods

Various forms of property

private property - under the total control of an agent. Private resources cannot, by definition, be captured by internal agents, and that is protected by a higher authority such as the state. They can be captured by external agents unless the agent controlling the resource is autonomous, see nondominium.
public property - under the control of the State, intended for general access, under certain rules to prevent congestion, deterioration or depletion. Access may require proof of citizenship or residence.
shared property- susceptible to capture by agents both inside and outside the organization. Power over such resources can be distributed, to make it difficult to be captured or privatized.
- commons: pool of tangible but immaterial (non-rivalrous) resources that may have rules regulating their use (ex. licence agreements).
- pool of shareable - pool of tangible and material (rivalrous) resources that are intended to be shared within a network/community, under various property regimes, individually governed based on property regime and intrinsic characteristics of the item, designed for preservation or perpetual use/access.
- common-pool resources - pool of tangible and material (rivalrous) resources, mostly consumables, that are governed in bulk by a network/community, with rules related to their intrinsic characteristics that are designed for preservation or perpetual use/access.
- condominium - division of a resource into parts that are privately owned, with some governance required to preserve the whole (infrastructure, support structures, overall integrity, etc.).
- nondominium: doesn't need the protection of the state or a powerful entity.
- toll goods: in economics, also known as club goods or quasi-public goods, are goods that are excludable but non-rivalrous up to a point. This means people can be prevented from using them if they do not pay (excludable), but one person's use does not reduce availability for others, at least until congestion occurs. Examples include toll roads, cable TV, cinemas, and private parks.

These goods typically have low marginal costs and are often provided by natural monopolies. To manage access and cover costs, providers exclude non-payers, such as through toll booths on roads or software encryption. Toll goods can be provided publicly or privately, but because they tend to create monopoly power, governments often regulate or publicly provide them to prevent inefficiency and monopoly abuses. The challenge lies in balancing exclusion costs, user fees, subsidies, and regulating monopoly rents associated with toll goods.

Necessary conditions for property to exist

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Header text	For private property	For public property	For Commons
Legal and Social Framework	Recognition by Law: Property must be recognized within a legal system. Without laws that define what constitutes property, and the rights associated with it, property cannot exist in a meaningful way. Enforcement Mechanisms: There must be mechanisms in place to enforce property rights. This includes courts, law enforcement, and other legal institutions that can adjudicate disputes and protect property rights.	Recognition by Law: Just like private property, public property must be recognized within a legal system. However, it is typically owned by the state, a government entity, or the public collectively. Enforcement Mechanisms: The state or governing body enforces the rules governing public property, ensuring it is used for its intended public purpose.	Recognition by Custom or Law: Commons can be recognized either through legal frameworks or traditional customs. In some cases, commons are protected by law, but in others, they rely on long-standing community practices and norms. Community-Based Governance: The governance of commons is typically decentralized, with rules and regulations established and enforced by the community that uses and manages the resource.
Possession or Control	Physical Control: The ability to possess, use, and control the object or resource is essential. For tangible property, this often means physical control or occupation. Ownership Title: For both tangible and intangible property, there must be some form of recognized ownership, typically documented through a title, deed, or other legal instruments.	Collective Control: Public property is controlled and managed by government institutions or agencies on behalf of the public. This control is not individualized but exercised through public officials or representatives. Stewardship Role: The government acts as a steward, managing the property to benefit the public, rather than for individual use.	Collective Possession: Unlike private property, commons are collectively possessed by a community. No single individual has exclusive control; instead, the community as a whole manages and uses the resource. Shared Stewardship: The community acts as a steward of the commons, with members collectively responsible for its maintenance and sustainable use.
Exclusivity	Right to Exclude Others: Property generally implies that the owner has the right to exclude others from using or benefiting from the property. This exclusivity is a key element of property rights.	Conditional Access: While public property is generally accessible to the public, access can be regulated. Certain rules or restrictions may apply, such as opening hours for a park or entry fees for a museum. Limited Exclusivity: Exclusivity is less emphasized with public property, but the government can exclude individuals from use if they violate laws or regulations.	Conditional Access Based on Community Membership: Access to the commons is often restricted to members of the community or group that manages it. This can include local residents, a specific user group, or other defined members. Managed Inclusivity: While access is generally open to the community, there are often rules to ensure that the resource is used sustainably and equitably. This might include quotas, time restrictions, or other management practices.
Transferability	Ability to Transfer Ownership: Property must be transferable, meaning the owner has the right to sell, lease, or otherwise transfer the property to another party. This transferability is crucial for the functioning of markets and the economy.	Limited Transferability: Public property is not typically transferable in the same way as private property. It cannot be sold or transferred without following specific legal processes, often requiring legislative approval or public consultation. Reallocation: Public property can be reallocated or repurposed (e.g., converting a public school building into a community center) but usually remains within the public domain.	Non-Transferable: Commons are typically not transferable in the same way as private or even public property. The collective ownership is usually tied to the community, and individual members do not have the right to sell or transfer their share. Intergenerational Stewardship: The resource is managed not just for the current community but for future generations as well, making the concept of transferability largely irrelevant.
Scarcity	Limited Availability: Property typically exists in the context of scarcity. If a resource is infinitely available, it may not be considered property in the traditional sense because exclusivity and ownership would be irrelevant.	Managed Scarcity: Public property, such as natural parks or public buildings, is managed to ensure sustainable use. The concept of scarcity still applies, but the focus is on ensuring that the resource remains available for the public over the long term.	Managed Scarcity and Sustainability: Commons exist under the principle that resources are finite and must be managed to prevent depletion. The community often develops rules to manage scarcity and ensure long-term sustainability. Collective Responsibility for Conservation: The community collectively takes responsibility for conserving the resource, often through practices like rotational use, shared labor, and mutual monitoring.
Value	Economic or Social Value: Property usually has some form of value, whether economic, social, or personal. The value can be intrinsic (inherent in the object) or extrinsic (assigned by society or individuals).	Public Value: The value of public property is often measured in terms of public benefit, social welfare, or environmental sustainability rather than just economic value. The value is derived from its utility to the public as a whole.	Communal Value: The value of commons is derived from their use and benefit to the community. This can include economic value, but also social, cultural, and environmental value. Intrinsic and Extrinsic Value: The resource often holds intrinsic value (important in its own right) as well as extrinsic value (important for the community’s well-being and identity).
Social Consensus	Shared Understanding: There must be a shared understanding or social consensus about what constitutes property and how property rights should be respected. This consensus can be cultural, legal, or customary.	Broad Consensus: Public property requires a broader social consensus regarding its use, management, and purpose. This consensus is typically expressed through laws, regulations, and public policies. Public Good Focus: The consensus is often centered on the idea of the common good, with decisions about public property reflecting collective rather than individual interests.	Community Consensus: The management and use of commons are based on a strong social consensus among community members. This consensus is typically built through participatory decision-making, shared norms, and collective agreements. Adaptive Governance: The rules governing the commons are often adaptable and can evolve in response to changing conditions or community needs, reflecting the dynamic nature of social consensus.
Accountability		Public Accountability: Management of public property is subject to accountability mechanisms, including transparency, public input, and oversight by government bodies or civil society organizations. This ensures that public property is used in a manner that aligns with public interests.	Community-Based Accountability: Accountability in the management of commons is maintained through social norms, peer monitoring, and collective decision-making processes. The community holds itself accountable for the sustainable management of the resource. Conflict Resolution Mechanisms: Effective commons management often includes local or community-based mechanisms for resolving conflicts and ensuring compliance with community rules.

Nondominium is neither public nor private. The conditions for it to exist is to have extremely high costs of control, making it virtually uncontrollable by any entity, not even by nation states. Thus, the nondominium form of property doesn't need protection. Examples are the Bitcoin network, the surface of the Moon, the amazonian forest for the local indigenous tribes, etc.

Public property, while sharing some similarities with private property, operates under a different set of conditions due to its communal nature. Here’s how the conditions differ or apply specifically to public property.

Property and value

Value is what drives people towards valuables, what moves them into action to acquire or use a valuable, what makes people want a valuable. Thus, a value experience is the first condition on which the notion of property is built. Once someone wants something for a specific use, a set of rights and obligations secures this use. If we think in terms of economic processes, securing rights over a valuable (a resource, an asset) means to make the process (fabrication for example) possible, stable, predictable. If the process determines the value experience, as in I want/need something in order to fabricate something else, it is that something else, the result of the fabrication process that is in essence the cause of the value experience. The individual values the first thing because it gets him/her to the second thing. If the process to get to the second thing is not secure, the first thing is not (or less) valuable.

Property and distribution, or transferability

A distribution system in society determines how valuables flow from one agent to another. Property, as a set of rights and obligations, makes distribution possible. It determines the status of a valuable at time t1 and at time t2, after a transaction, which is the action that constitutes the flow of this valuable from one agent to another. For example, if a thing is under the custody of agent1 at time t1 and that thing is needed by agent2 at a later time, the two agents can arrange a transaction to transfer rights from agent1 to agent2, thus changing the status on this ting, which makes it possible for agent2 to engage with this thing, perhaps to use it in a fabrication process as a part. Distribution is a change in status, a transfer of rights and obligations associated with that thing, which requires a mechanism for assessing which agent has rights over a thing at time t. Distribution is not possible without the notion of property.

Property and motivation and incentive systems

Within an organizational setting (OVN or other), motivation and incentive systems depend, to a great extent on the property model that an organization uses. In other words, once the property regime is fixed, only a limited number of motivation and incentive models are possible on top of that (call it economic model or business model). In turn, this determines people's values and behaviour within that organization.

Property and organizations

Organizational structure greatly depends on the property regime(s) that it adapts, on which only a limited number of motivation and incentive systems can be design or implemented (see section above).

Property rights

From Wikipedia: “Depending on the nature of the property, an owner of property has the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away or destroy it, or to exclude others from doing these things, as well as perhaps to abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it (as a durable, mean or factor, or whatever), or at the very least exclusively keep it”.

Praxix

Within the Sensorica OVN affiliates distinguish between commons, reserved for shared immaterial assets, see Pool of shareables.

Property

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