own·er·ship

[oh-ner-ship]
noun
1.
the state or fact of being an owner.
2.
legal right of possession; proprietorship.

Origin:
1575–85; owner + -ship

in·ter·own·er·ship, noun
self-own·er·ship, noun
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
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Collins
World English Dictionary
ownership (ˈəʊnəʃɪp) [Click for IPA pronunciation guide]
 
n
1.  the state or fact of being an owner
2.  legal right of possession; proprietorship

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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00:10
Ownership is always a great word to know.
So is ort. Does it mean:
a scrap or morsel of food left at a meal.
an extraordinary or unusual thing, person, or event; an exceptional example or instance.
Etymonline
Word Origin & History

ownership
1580s, from owner (see own (v.)) + -ship.
Online Etymology Dictionary, © 2010 Douglas Harper
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Encyclopedia Britannica
Encyclopedia

ownership

the legal relation between a person (individual, group, corporation, or government) and an object. The object may be corporeal, such as furniture, or completely the creature of law, such as a patent, copyright, or annuity; it may be movable, such as an animal, or immovable, such as land. Because the objects of property and the protected relations are different in every culture and vary according to law, custom, and economic system and the relative social status of those who enjoy its privileges, it is difficult to find a least common denominator of "ownership." Ownership of property probably means at a minimum that one's government or society will help to exclude others from the use or enjoyment of one's possession without one's consent, which may be withheld except at a price.

Learn more about ownership with a free trial on Britannica.com.

Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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Example sentences
Individuals, cities and agri business claim ownership of the aquifer underlying
  their property.
She had self-possession, and that was ownership enough.
Data ownership refers to both the possession of and responsibility for
  information.
In essence, we're seeing a new relationship to property-where access trumps
  ownership.
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