State ownership


State ownership

State ownership, also called public ownership, government ownership or state property, are property interests that are vested in the state, rather than an individual or communities.[1]

State ownership may refer to state ownership or control of any asset, industry, or enterprise at any level, national, regional or local (municipal); or to common (full-community) non-state ownership. The process of bringing an asset into public ownership is called nationalization or municipalization.

In primarily market-based economies, government-owned assets are often managed and run like joint-stock corporations with the government owning a controlling stake of the shares. This model is often referred to as a state-owned enterprise. A government-owned corporation (sometimes state-owned enterprise, SOE) may resemble a not-for-profit corporation as it may not be required to generate a profit. Governments may also use profitable entities they own to support the general budget. SOE's may or may not be expected to operate in a broadly commercial manner and may or may not have monopolies in their areas of activity. The creation of a government-owned corporation (corporatization) from other forms of government ownership may be a precursor to privatization.

Contents

User rights

When ownership of a resource is vested in the state, or any branch of the state such as a local authority, individual use "rights" are based on the state's management policies, though these rights are not property rights as they are not transmissible. For example, if a family is allocated an apartment that is state owned, it will have been granted a tenancy of the apartment, which may be lifelong or inheritable, but the management and control rights are held by various government departments.[2]

Public property

There is a distinction to be made between state ownership and public property. The former may refer to assets operated by a specific organization of the state used exclusively by their operators or that organization, such as a research laboratory, while public property refers to assets and resources that are available to the entire public for use, such as a public park (see public space).

See also

References

  1. ^ Clarke, Alison; and Paul Kohler (2005). Property law: commentary and materials. Cambridge University Press. pp. 40. ISBN 0521614899, 9780521614894. http://www.google.com/books?id=JnzxTbFwdLMC&dq=%22public+property%22+property+theory&lr=&as_brr=3&source=gbs_navlinks_s. 
  2. ^ Clarke, Alison; and Paul Kohler (2005). Property law: commentary and materials. Cambridge University Press. pp. 40. ISBN 0521614899, 9780521614894. http://www.google.com/books?id=JnzxTbFwdLMC&dq=%22public+property%22+property+theory&lr=&as_brr=3&source=gbs_navlinks_s. 

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Look at other dictionaries:

  • state ownership — UK US noun [U] ECONOMICS, GOVERNMENT ► PUBLIC OWNERSHIP(Cf. ↑public ownership) …   Financial and business terms

  • state ownership — noun ownership of an industry by the people or the state; nationalisation Syn: public ownership …   Wiktionary

  • state ownership — See nationalization; public sector …   Big dictionary of business and management

  • state ownership — /steɪt əυnəʃɪp/ noun a situation in which an industry is nationalised …   Dictionary of banking and finance

  • ownership — own‧er‧ship [ˈəʊnəʆɪp ǁ ˈoʊnər ] noun [uncountable] COMMERCE the state of owning something: • Car ownership by teenagers tripled during the decade. • Home ownership is more common in Britain than in Europe generally. • Limited partnerships give… …   Financial and business terms

  • State socialism — State socialism, broadly speaking, is any variety of socialism which relies on control of the means of production by the state, either through state ownership or regulation. [cite web url=https://lra.le.ac.uk/handle/2381/3186 title=Leicester… …   Wikipedia

  • State capitalism — State capitalism, in its classic meaning, is a private capitalist economy under state control. This term was often used to describe the controlled economies of the great powers in the First World War. [cite encyclopedia encyclopedia = Blackwell… …   Wikipedia

  • State-owned enterprises of New Zealand — State owned enterprises (SOEs) in New Zealand are registered companies listed under Schedules 1 and 2 of the State Owned Enterprises Act 1986 . Most SOEs are former government departments or agencies that were corporatised.Many other government… …   Wikipedia

  • state socialism — state socialist. the theory, doctrine, and movement advocating a planned economy controlled by the state, with state ownership of all industries and natural resources. [1875 80] * * * …   Universalium

  • state socialism — n. the theory, doctrine, or practice of an economy planned and controlled by the state, based on state ownership of public utilities, basic industries, etc …   English World dictionary


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