Owner – definition and meaning
An owner is somebody who owns something. However, not all owners are people. For example, a holding company is the owner of its subsidiary firms. Also, the government, which is not a human being, in most countries owns some companies. Owners are parties that possess the exclusive right to use, benefit from, sell, transfer or convey, and hold properties or assets.
If I am the owner of something, it means that it belongs to me.
In contracts, the owners are those who award the contracts for projects. They undertake to pay contractors. We often refer to them as contract owners.
In a company, the owner may be an executive or employee who has principal responsibility for a project, program, or process.
Many words that end with the letters ‘o-w-n-e-r’ refer to some type of ownership. For example, a landowner owns land, a shipowner owns a ship, and a homeowner owns a home.
CollinsDictionary.com has the following definition of the term:
“The owner of something is the person to whom it belongs.”
Owner – many types
Ownership comes in many forms. For example, ownership of property may be common, collective, or private. The property may be land, a building, an object, or intellectual property. Intellectual property refers to slogans, trademarks or patents, i.e., creations of the mind.
Determining who the owners of things are in law involves determining who have certain duties and rights over properties.
We can gain ownership of a property in one of many ways:
- By purchasing the property with money.
- Receiving something as a gift.
- Winning something in a bet.
- Inheriting something after somebody dies.
- Receiving something as damages.
- Making something.
- Trading something for something else.
- It is also possible to gain ownership of something by performing services or doing work.
We can cease being owners of things by losing them, through foreclosures, and seizures. We can also cease ownership as a result of an eviction. Additionally, we may give something away, lose it in a bet, or bequeath it to somebody.
Compound words or phrases with ‘owner’
There are many compound words or phrases we can make with the word owner. Here are a few:
- Owner-occupier:
A person who owns and resides in a property. - Owner-operator:
An individual who both owns and operates a business or vehicle. - Owner-driver:
A person who owns and drives their vehicle. - Owner-manager:
Someone who both owns and manages a business. - Owner-occupied:
A property occupied by its owner rather than a renter. - Owner’s equity:
The net value that an owner has in an asset or business. - Owner’s manual:
A handbook that comes with purchased products to provide usage instructions. - Owner-financing:
When the seller provides the buyer with a loan to purchase the property. - Owner’s representative:
An individual representing the owner in a specific context, often in construction or business projects. - Owner surrender:
When a pet owner gives up their pet to a shelter or rescue. - Owner’s draw:
The money taken out from a business by the owner for personal use. - Owner’s risk:
A term indicating that the owner bears the risk for damage or loss, often used in shipping. - Owner-shipwright:
A person who both owns and builds boats or ships. - Owner’s title insurance:
Insurance that protects property owners from potential title disputes. - Owner’s suite:
The primary bedroom or luxury cabin, often in real estate or on cruise ships. - Owner-breeder:
Someone who both owns and breeds animals, often horses. - Owner-lessee:
A person who owns a property and also leases another property from someone else. - Owner’s profit:
The profit that accrues directly to the owner after all expenses. - Owner’s club:
A club or organization specifically for the owners of a certain brand or type of product. - Owner’s mark:
A distinctive mark or signature indicating ownership, often used for livestock or artwork.
Video – What is an owner?
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