Meaning of Property Law

What is property law:

The property right is the legal and immediate power that a person has to enjoy, dispose of and claim over an object or property, without affecting the rights of others or exceeding the limits imposed by law.

The property right covers all those material goods that can be appropriate, useful, of limited existence and that can be occupied.

That is, if a person owns a space of land in which a sweet potato field grows, consequently they are the owner of the sweet potatoes that are harvested there and can do with them what seems most convenient, that is, sell them, give them away or donate them, always within the limits of the law.

In some cases, these assets may belong to two or more people, which gives rise to the right to co-ownership, private property and collective property, as necessary.

On the other hand, one can speak of property rights from a generalized point of view and not only from the notion of domain or power that a person has over a thing. From the generalized point of view, the property right is the power that people have to take something that corresponds to us.

However, from the legal point of view, the property right contains the direct power that a person possesses over an asset, granting them the power to dispose of the acquired object without restrictions. Consequently, the right to property is limited, in order to protect the common well-being and that of other people.

Within the term property are also the goods that can be appropriated as an inheritance, the creation of a brand and patents, intellectual or literary property, among others. For example "My father left me his motorcycle as an inheritance", "I patented the designs of my company logo", "The content of this book is protected by intellectual property rights".

See also the meaning of Law.

The property right is characterized by being:

  1. Perpetual because it will depend on the time of existence of the good.
  2. Exclusive because it can only be attributed to the owner or owners of the property.
  3. Limited to protect the common good, as provided by law.

Intellectual property law

Intellectual property law protects all those tangible or intangible assets conceived from the creativity of people, that is, literary works, names for commercial purposes, artistic works and images.

Intellectual property law has promoted the promotion of creativity and innovation by people, since through this legislation it has sought to protect and promote copyright, trademarks, industrial designs and patents, as well as to protect economic remuneration that generate such goods.

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