Origin: Germanic Old English suffix
Ownership has 4 different meanings across 1 category:
the relation of an owner to the thing possessed; possession with the right to transfer possession to others
"After signing the deed, his ownership meant he had full legal title and could sell or gift the property whenever he chose."
the act of having and controlling property
"The new policy shifts ownership from the corporation to the individual employees, giving them full control over their assigned assets."
the state or fact of being an owner
"The transfer of ownership was finalized when the deed was signed and recorded in public registry."
The state of having complete legal control of something; possession; proprietorship.
"The new museum policy clarifies that all artifacts belong to the public, not private ownership by wealthy collectors."
In plain English: Ownership is when you have full control and legal rights over something so no one else can take it from you.
"The company's ownership of the land has been passed down through three generations."
Usage: Use ownership to describe the legal right or authority to possess and control something, rather than just physically holding it. It refers to the formal status of being the proprietor of an item or property.
The word ownership is formed by combining the noun owner with the suffix -ship to indicate a state or condition. It entered English as a straightforward construction meaning the right to possess something.