Private property
Legal designation of the ownership of property by non-governmental legal entities / From Wikipedia, the free encyclopedia
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For other uses, see Private property (disambiguation).
Private property is a legal designation for the ownership of property by non-governmental legal entities.[1] Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by one or more non-governmental entities.[2]
Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for profit.[3] As a legal concept, private property is defined and enforced by a country's political system.[4]