Meaning & Definition of word "Ownership"

Ownership

/ˈoʊnərʃɪp/

noun:

  • 1. The state or fact of being an owner.
    • Example: The ownership of the property is in dispute.
  • 2. The legal right to possess something.
    • Example: He has full ownership of the land after the purchase.
  • 3. Responsibility for and control over something.
    • Example: The team's ownership of the project led to successful completion.

Etymology

Derived from the word 'owner,' influenced by the suffix '-ship' indicating condition or quality.

Common Phrases and Expressions

ownership society:

A societal model that promotes private property and individual ownership.

shared ownership:

A scheme where multiple parties share ownership of an asset.

take ownership:

To accept responsibility for something.

Related Words

owner:

A person who owns something.

own:

To possess something.

ownage:

Slang term for domination or superiority in a contest.

Slang Meanings of ownership

Meaning: Ownage

Example Sentence: He totally destroyed his opponent in the game; it was pure ownage.

Meaning: Take the reins

Example Sentence: You're the new manager, it's time to take the reins and show some ownership.