ownership

noun

own·​er·​ship ˈō-nər-ˌship 

plural ownerships

1

: the state, relation, or fact of being an owner

Warhol died in 1987, and the Andy Warhol Foundation for the Visual Arts assumed ownership of his work.

—Adam Liptak

… transfer of business and farm ownerships …

—The Columbian (Clark County, Washington) (online)

2

: a group or organization of owners

The sale, if approved by at least 75% of major league ownership, would value the team at $1.725 billion.

—Cale Clinton

3

: the quality or state of being accountable : responsibility

A successful candidate must settle all fines and costs owed to the society … and take full ownership for the conduct that led to their disciplinary hearing.

—Maggie McIntosh

The important thing in those situations is to promptly accept ownership of a misstep, do what's necessary to clean up the mess, and make the changes necessary to ensure it doesn't happen again.

—Danville (Virginia) Register & Bee

Examples of ownership in a Sentence

The company is under private ownership.

Recent Examples on the Web

In reality, the legislation would transfer ownership of the land from the federal government to the city, paving the way for eventual development. —CBS News, 19 Dec. 2024

But the other part of it is that the whole ownership model gave us a ton of flexibility. —Demarco Williams, Forbes, 19 Dec. 2024

Unless the company wins its appeal to the high court or divests from Chinese ownership, the video platform could be banned in the US on January 19 due to national security concerns. —Alexandra Banner, CNN, 19 Dec. 2024

Meanwhile, gun ownership among Democratic women remains relatively rare. —Terry Collins, USA TODAY, 19 Dec. 2024

Word History

Etymology

owner + -ship

First Known Use

1583, in the meaning defined at sense 1

Phrases Containing ownership

• cross-ownership
• home ownership

Legal Definition

ownership

noun

own·​er·​ship

: the state, relation, or fact of being an owner

also : the rights or interests of an owner

— absolute ownership

: ownership especially by a single person that is free of any encumbrances or limitations other than statutory law compare fee simple absolute at fee simple

— ostensible ownership \ ä-​ˈsten-​sə-​bəl-​ \

: ownership that is apparent rather than actual and that sometimes is recognized in cases of purchase of the property by an innocent third party

a dispute arising from the dealer's ostensible ownership and sale of the collateral

Note: A purchaser from a person with ostensible ownership of property may be able to defeat the claim to the property of the actual owner who created the ostensible ownership.

— ownership in indivision

in the civil law of Louisiana : ownership by two or more persons each having undivided shares in the property as a whole compare community property at property

— qualified ownership

: ownership that is limited by time, the interest of another party, or restrictions on the use of the property

had only qualified ownership of the fish and game on his property due to state restrictions