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

With the expiration of tax cuts, the potential for higher borrowing costs and economic and generational shifts in ownership, there are compelling reasons for business owners to consider selling during this window. —Marc Emmer, Forbes, 1 Nov. 2024

New Limited Partners to Join Phillies Ownership Group Phillies managing partner and chief executive officer John Middleton announced three new investors will be added to the team’s ownership group: Mitchell L. Morgan, Guntram J. Weissenberger Jr. and a third investor who wishes to remain anonymous. —Sportico Staff, Sportico.com, 1 Nov. 2024

From $307 per night. BOOK NOW The W Aspen There are a couple of ways to live the high life at The W. At the Aspen outpost, the property offers rooms, suites, and Sky Residencies (units that offer ownership opportunities for frequent visitors). —Will Porter, Architectural Digest, 31 Oct. 2024

Both coal and oil imports have risen rapidly as the population takes a liking to round-the-clock electricity and car ownership. —Ganesh Rao, CNBC, 31 Oct. 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