For everyday life, property is the belonging of certain things to certain individuals or groups of individuals. And this means that each of these people can use this thing as he wants. This assumption is determined by the attitude of the person to what he possesses.
In a scientific understanding, property is a social concept that reflects a complex system of relationships between social groups, individuals, and classes. The nature of the property determines the forms of exchange, distribution and consumption. In the process of economic development, forms of ownership tended to change, which was based on the development of productive forces.
Economic interest is expressed in the desire of people to satisfy their needs and requirements. In the conditions of the social distribution of labor, it acts as an important stimulus in the growth of exchange and production. And economic interests for the most part are rather controversial. So, the owner of the company is interested in maximizing profits and lowering wage costs. And wage workers, in turn, are interested in increasing wages.
Property relations and conflicts of interest are manifested during the competition, when everyone seeks to supplant the enemy. At the same time, a variety of measures are used: price knocking down, secret agreements, and deprivation of competitors of loans, raw materials, etc. Ownership is the cause of many disagreements. A kind of stumbling block.
The state regulates the protection of property rights, which is fixed in laws. It also acts as one of the prerequisites for market exchange and interaction between the seller and the buyer.
When an entrepreneur owns property, this encourages him to use it to the maximum: to use resources. Collective ownership also encourages owners to use it rationally.
Speaking of collective ownership, we should mention the rest of its forms. It also happens to be private and public.
Private property: results and means of production are owned by individuals. The collective is characterized by belonging to a group of persons, where each of them is the owner of the products and factors of production. Public ownership is a property that belongs to all of humanity. State ownership is also considered.
There is still such a type of property as intellectual. This is the result of a person’s mental activity, the creation of his mind. It can be of two types: industrial property and copyright. The first is patents, industrial designs, trademarks , etc. And the second - art and literary works, architectural structures, etc.
Ownership of property gives a person satisfaction and a sense of responsibility for how efficiently the resources of society are used. And the owner striving for profit will eventually be able to achieve benefits for society as a whole.