Property
It is a bundle of rights or permissions and obligations that govern or normalize the use, creation of destruction, and the benefits from a resource.
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.
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.
Praxix
Within the Sensorica OVN affiliates distinguish between commons, reserved for shared immaterial assets, see Pool of shareables.