Property refers to anything that an individual or group owns and has legal rights over. It can include tangible objects like land, buildings, and personal possessions, as well as intangible assets such as intellectual property and financial assets. Property ownership grants individuals the right to use, control, and transfer their possessions according to their own wishes, within the boundaries of the law. It is an essential concept in economics and society, serving as the foundation for wealth creation, investment, and socioeconomic development. Property rights are protected by legal frameworks and are crucial for maintaining stability, incentivizing innovation, and fostering economic growth.