The word Property is rich with meanings. The Latin word proprius is the root of the word proprietas much in the same way as the word property in English is the noun formed from the word proper by using the suffix ty. So literally in Latin the word Proprius means: ones own, special. That means ones property is what one owns or what one has as specially his.
The Sanskrit word swatva used for property in Indian philosophy, is a noun derived from the word swa i.e. self, with the help of suffix tva and, therefore, etymologically it means the attribute or property of ones self.
Taking into account the above roots of the respective words used to connote property, it means that ones property is an attribute of ones self and roughly means what one owns or what one has as ones own. A persons property therefore, is anything owned by that person. A thing may mean a tangible or an intangible one, a movable or an immovable one, a material or an abstract one etc. Thus, a thing may have in its ambit, an idea or a feeling or a right or an object with equal ease.
In English the word property means among other things: a thing owned, possession(s) especially real estate, an attribute, quality or characteristic. It can be observed that English language has combined the meaning of property derived from the above-mentioned two languages. The extended notion of property may also be observed in Dixon v. Holden, (1869) 7 Eq. 488 where it was quoted that A mans reputation is his property, and if possible, more valuable, than other property. In the recent times the meaning has underwent lots of transition and has gained recognition of ideas and expressions as a kind of property in the name of Patents, Copyrights etc.
2. Concept of Property in India
Property was one of the four pillars upon which stood firmly the complete framework of ideal Indian life. They are: Dharma Religion or that which one ought to bear as ones solemn duty Artha Finance, loosely meaning all roots of worldly property Kama Desires, ambitions and Moksha Liberation from worldly connections or salvation.
Geeta divides property into two forms i.e. 1) Daivi Devine and 2) Asuri Demon like
1) Daivi Persons born with divine property are fearless, simple hearted, learned in Vedas, devoid of anger or enmity towards all, truth speaking and having a sense of reverence towards God, gods and gurujana (teacher). 2) Asuri - Persons born with demon like property are marked by their sense of pride, arrogance, anger, ego, rigidity and also ignorance.
Persons with property enjoyed social respect and recognition in olden times much in the same they do in the modern world.
The law of property comes under substantive law, which deals with law of things, law of persons, contractual obligations, torts and crimes. The law of things covers the ownership, pledge, various kinds of bailments etc.
3. Kinds of Property
According to John D. Mayne while individual property is a rule in the West; corporate property is the rule in the East. He says that three forms of corporate system of property exist in India. a) Patriarchal Family b) Joint Family and c) Village Community
4. Acquisition of Property
Dharmashastras describe various means of acquisition of ownership. According to Manu there are 7 virtuous means of acquisition of wealth: - a) Inheritance b) Gain c) Purchase d) Conquest e) Application (of wealth) f) Employment of work and g) Acceptance of gift (from proper person)
5. Property over Ideas in Ancient India
Indian Jurists and philosophers always made it clear that vidya, that is, knowledge was greatest of all gifts a man could make in favour of the other. It was said that Annadaanam Param Daanam, Vidya Daanam Tatah Param. This philosophy would lead one to believe that knowledge was not a marketable thing. This may be true theoretically but when it comes to practicality we may find aberrations of this rule (e.g. a Sanskrit scholar Bharavi sold his shlokas for a few gold coins to the kings men).
The scholars and jurists did relate knowledge with money is seen shlokas. Bhatrihari declared it as best of all the assets one could have because, ones property of Vidya cannot be: - 1) stolen by a thief, 2) confiscated by the state, 3) partitioned by the brother, 4) nor does it have any weight of its own. Its greatness is that it increases as it is spent (essence of dissemination of knowledge as in the case of Patents). In this case the Vidyadhanam can be categorised under the category of self-acquired property i.e. property over the ideas and skills.
Right of a person over a self-acquired property which could also, to use a modern phrase, an intellectual property was not exclusive; rather it was to be kept in harmony with the rights of the society in that property. It may be noted that even in the modern times this may hold good because a man having an intellectual property right cannot be allowed to use it in exclusion of the rights of the society to be benefited by the use of that property.
6. Western Concept of Property
The early Roman jurists believed that it was a popular usage, followed by small societies the world over, which permitted a hunter to acquire property in an animal which had been trapped or killed by him, a farmer in the soil which had been added to his land through imperceptible river deposits, a land owner in a tree which had struck its roots in that land; and such other cases. To the later Roman Lawyers these modes appeared to be the simplest ones and, hence, the natural ones. Things, which either did not have an owner or had never had one, were termed by the Roman lawyers as res nullius. For example, the wild animals, fish, wild birds and lands newly discovered or cultivated never before etc. can be taken to be the things which never had an owner; while the movables which have been deserted and the property of an enemy can be regarded as things, which, for the moment do not have an owner. In all such objects the full rights of dominion were acquired by the occupant who first took possession of them with an intention of keeping them as his own.
7. Meaning of the Term Property
The Roman law dealt with the concept related with acquisition of property but it did not define the term property. Res Nullius would become the property of the first occupant and termed this concept occupatio (occupancy); but shunned the definition of the term itself. Sometime it may mean ownership or title and, at others, the res over which the ownership is to be excercised. The term also takes in its ambit assets, which in the eyes of law are only the rights in personam e.g. share certificate.
8. Kinds of Property
1) Corporeal Property 2) Incorporeal Property
1) Corporeal Property a) Movable and Immovable Property b) Real and Personal Property
2) Incorporeal Property a) Jura In Re Aliena Leases Servitude Securities and Trusts b) Jura In Re Propria Patents Litrary Copyright Artistic Copyright Musical and Dramatic Copyright Commercial goodwill, trademarks and trade names
9. Theories of Property a) Occupation theory b) Labour theory c) Metaphysical theory d) Utilitarian theory e) Functional theory f) Social trust theory and g) Socialist theory