Legal Definitions - Proprietary rights

Proprietary rights, also known as property rights, refer to the legal ownership of tangible or intangible property. These rights give the owner the ability to control, use, and dispose of the property as they see fit.

• Real estate property: A homeowner has proprietary rights over their house, which means they have the right to sell, rent, or modify the property as they see fit.
• Intellectual property: An inventor has proprietary rights over their invention, which means they have the right to prevent others from making, using, or selling the invention without their permission.
• Business assets: A company has proprietary rights over its assets, such as equipment, inventory, and trademarks, which means they have the right to use and protect these assets from infringement.

These examples illustrate how proprietary rights give owners control over their property and the ability to benefit from it. Without these rights, individuals and businesses would not have the incentive to invest in and create new property.