e-journal

ACCESSION AND ORIGINAL OWNERSHIP

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ABSTRACT
Although first possession is generally assumed to be the dominant means of establishing
original ownership of property, there is a second but less studied principle
for initiating ownership, called accession, which awards new resources to
the owner of existing property most prominently connected to the new resource.
Accession applies across a wide variety of areas, from determining rights to baby
animals and growing crops to determining ownership of derivative rights under intellectual
property laws. Accession shares common features with first possession,
in that both principles assign ownership uniquely in a way that imposes minimal
information cost burdens on society. But accession differs from first possession in
that it does not presuppose that rights are established in an open access commons
and does not require the performance of an act to establish ownership. These features
of accession make it, as a rule, more efficient than first possession, at least
where property rights are thick and securely enforced. More broadly, accession can
be seen as the critical legal principle that generates the internalization function of
property, insofar as gains and losses attributable to the management of resources
are automatically assigned to the most prominently connected property by accession.
Although the story of accession is generally a positive one from an efficiency
perspective, it may be more problematic from several normative perspectives,
which are briefly considered.

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Informasi Detail

Judul Seri

Journal of Legal Analysis

No. Panggil

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Penerbit

Oxford : Oxford University Press on behalf of The John M. Olin Center for Law., 2009

Deskripsi Fisik

Summer, 2009: Volume 1, Number 2 , Journal of Legal Analysis

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

HUKUM

Info Detail Spesifik

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Pernyataan Tanggungjawab

agus

Versi lain/terkait

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