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GLOSSARY

Ownership definition

Published by a LexisNexis Commercial expert

What does Ownership mean?

The term ownership denotes a wide array of rights over property.

Ownership appears to have the widest set of rights over property and sometimes is called “absolute ownership” including rights of exclusive enjoyment, of destruction, alteration and alienation, of maintaining and recovering possession of the property from all other persons. Ownership of land differs from ownership over personal property or over goods in that the common law did not treat land as the subject of absolute ownership but only of tenure. Also, the common law did not recognise the alternative that the ownership of goods could be split up into lesser successive interests or estates, or remainders or reversions in chattels. See Halsbury's Laws of England, 80 (5th), 812, 813.

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Influencer risk assessment—checklist

Influencer risk assessment—checklist Influencers are so named because of their extensive social media following. They have a self-selecting, trusting audience that can typically be categorised by age, sex, location and/or interest. By using influencers effectively, brands can deliver targeted messages to large, interested groups and crucially, those messages are being delivered by a trusted source. Brands commonly work with influencers by: • paying influencers to post particular content (ie advertorials), and/or • providing affiliate links or discount codes to be included in posts where the influencer gets paid for every ‘click-through’ or sale tracked back to the influencer’s content (ie affiliate marketing) An influencer is effectively a business partner and should be carefully chosen to minimise potential damage and maximise the success of the campaign. This Checklist outlines key points to consider prior to engaging with an influencer for a specific project. Regulation of influencer advertising The primary legislation applicable to influencer advertising is Part 4 of the Digital Markets, Competition and Consumers Act 2024 (DMCCA 2024), which regulates unfair and misleading business-to-consumer commercial practices....

Commercial contract review and execution (business personnel)—checklist

Commercial contract review and execution (business personnel)—checklist This is a Checklist for in-house lawyers to provide to those of its employees (eg procurement or sales professionals) who are engaged in negotiating commercial contracts. It sets out the primary issues to consider when negotiating or reviewing a business-to-business commercial contract, and includes practical guidance. This Checklist may be suitable for use in low risk contracts where employees who are not legally qualified are authorised to conduct negotiations and contract review. It may be customised as required to work with a company playbook on contract negotiation and review, to include suggested fall-back drafting positions and escalation points for recourse to a legal team as appropriate. As it is intended to be used by non-legal professionals, it does not include links to further detailed legal commentary in each case. For a Checklist intended for use by legal professionals with links to further information, see: Commercial contract drafting and review—checklist. In-house lawyers should check that business personnel engaged in negotiating and concluding commercial contracts...

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Formalising the family business—checklist

Formalising the family business—checklist Many family businesses start out with quite an informal governing structure in place; the family members have an understanding of their roles and relationships with each other, and decisions are made quickly at the kitchen table. The nature of many family businesses is that they are informal and flexible, and their objectives are often driven by doing the best for the family according to the family's values, rather than purely for the profit of the owners. However, as the business grows and more members of the family and other employees start working with them, it becomes more and more difficult to manage the business in this way. The pros and cons of formalising the family business are considered in Practice Note: Family businesses. This checklist sets out a list of questions that an adviser can put to the family (or that the family can consider themselves) to assist with setting up a structure for the family business. These questions will also help determine the matters to...

Copyright infringement action—flowchart

Copyright infringement action—flowchart Stage 1—preparing to bring a claim and pre-action matters Claim preparation and pre-action matters—Practice Notes • Copyright―protectable works • Copyright—subsistence and qualification • Copyright—authorship and ownership • Copyright infringement • Interim and final injunctions—overview • Copyright—permitted acts and defences • Copyright—secondary infringement • How to run an IP dispute • Disclosure scheme—overview • Types of dispute resolution • IP and mediation • IP and arbitration • UK Intellectual Property Office—mediation scheme Claim preparation and pre-action matters—Precedents • Cease and desist letter—IP infringement Claim preparation and pre-action matters—Checklist • Disclosure Scheme timetable—checklist Claim preparation and pre-action matters—Forms • Application for injunction • Application notice • Notice of hearing of application Claim preparation and pre-action matters—News Analysis • The use of intellectual property insurance Stage 2—letter of claim alleging copyright infringement Letter alleging copyright infringement—Practice Notes • Copyright infringement • How to draft a letter of claim in an IP dispute • Unjustified threats of intellectual property right infringement • Civil and criminal remedies for intellectual property...

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Preparing for the auditors—in-house lawyers

Preparing for the auditors—in-house lawyers One of the key dates in your organisation’s calendar is the date of the annual audit. An important part of the auditors’ role is to ensure that your organisation’s processes are fit for purpose. Central to that is your organisation’s approach to legal matters and legal risk. As an in-house lawyer, you need to prepare for the auditors’ visit because inevitably they will want to meet with you. While each audit firm has its own standard set of questions for in-house lawyers, the questions tend to follow certain themes, eg: • your risk register • litigation • applicable law and regulation • contracts • intellectual property (IP) • legal work process • your knowledge and experience Since joining your organisation, you have hopefully had the opportunity to meet with the key directors and heads of function. Those meetings will have given you the opportunity to find out more about many of the issues the auditors will be interested in. See Practice...

Annual tax on enveloped dwellings (ATED)—the basics

Annual tax on enveloped dwellings (ATED)—the basics What is the annual tax on enveloped dwellings? The annual tax on enveloped dwellings (ATED) was introduced as part of a package of measures aimed at making it less attractive to hold high-value UK residential property indirectly, eg through a company, in order to avoid or minimise taxes such as stamp duty land tax (SDLT) on a subsequent disposal of the property. The other measures included in the anti-avoidance package relating to high-value UK residential property include: • the single higher rate of SDLT on the acquisition of high-value UK residential property for non-natural persons (NNPs) (for further details, see Practice Notes: Rates of SDLT and Single higher rate of SDLT for high-value residential property transactions), and • prior to 6 April 2019, a capital gains tax (CGT) charge on sales of high-value UK residential property by NNPs (abolished from 6 April 2019 (for further details, see Practice Note: Capital gains tax charge on ATED-related gains [Archived])) When does ATED...

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Distribution agreement—non-exclusive—short form

Distribution agreement—non-exclusive—short form This Agreement is made on [date] Parties 1 [insert name of party] [of OR a company incorporated in England and Wales under number [insert registered number] whose registered office is at] [insert address] (Manufacturer); and 2 [insert name of party] [of OR a company incorporated in England and Wales under number [insert registered number] whose registered office is at] [insert address] (Distributor); each of the Manufacturer and the Distributor being a party and together they are the parties. Background (A) The Manufacturer manufactures [and supplies] the Products. (B) The Distributor has agreed to distribute the Products on a non-exclusive basis in the Territory in accordance with the provisions of this Agreement. The parties agree: 1 Definitions 1.1 In this Agreement: Active Sales • has the meaning given in Article 8(7) of VABEO; Affiliate • means any entity that directly or indirectly controls, is controlled by, or is in under common control with, another entity where “control” means the beneficial ownership of...

Template replies to CPSE 4 (version 3.3)—Supplemental pre-contract enquiries for commercial leasehold property on the assignment of the lease

Template replies to CPSE 4 (version 3.3)—Supplemental pre-contract enquiries for commercial leasehold property on the assignment of the lease WARNING These template replies to enquiries are intended only as a framework and starting point to assist the Seller in building their bespoke replies to enquiries. They are not a recommended, comprehensive or conclusive list and should not be used without careful consideration and bespoke amendment to suit the particular transaction. Replies to enquiries form part of the contract and it is imperative that they are correctly tailored to the specific matter and do not include any false or flippant statements. They should also not contain any generic statements, such as ‘Not to the Seller’s knowledge’, unless the Seller has made an effort to discover a more comprehensive answer to the enquiry. Such a response contains within it an implication that the Seller has itself made reasonable enquiries relation to the enquiry in question. You must stress to your client the importance of reviewing the draft replies very carefully and, if...

Dive into our 168 Precedents related to Ownership

When an organisation wishes to add several branches to its Sponsor Licence, can this be done ‘in bulk’ (via one report on the Sponsor Management System and then a single submission of supporting documentation relating to each of the new branches), or must an individual SMS report be made for each new branch?

When an organisation wishes to add several branches to its Sponsor Licence, can this be done ‘in bulk’ (via one report on the Sponsor Management System and then a single submission of supporting documentation relating to each of the new branches), or must an individual SMS report be made for each new branch? Practice Note: Applying for a sponsor licence under Workers and Temporary Workers: eligibility and suitability notes that an organisation which has different subsidiaries, location offices or campuses (all of which are termed 'branches' for these purposes) in the UK can choose to register: • all its branches together under one licence • all its branches separately, or • several of its branches together, eg by location The relevant section of the sponsor guidance is at Workers and Temporary Workers Sponsor Guidance, Part 1, Organisations with multiple branches. Where a sponsor wishes to add new branches subsequent to the grant of a licence, the Practice Note: Workers and Temporary Workers sponsor duties: sponsor changes of circumstances notes that...

What are the pre- and post-trade transparency requirements for UK trading venues in respect of shares and other equity-like instruments?

What are the pre- and post-trade transparency requirements for UK trading venues in respect of shares and other equity-like instruments? What are the pre- and post-trade transparency requirements in respect of shares and other equity-like instruments under UK MiFIR? Pre-trade Market operators and investment firms operating a trading venue are required to make public current bid and offer prices and the depth of trading interests at those prices which are advertised through their systems for shares and other equity-like instruments traded on a trading venue. This requirement also applies to actionable indication of interests. Information must be available to the public on a continuous basis during normal trading hours. For detailed information, see Practice Note: MiFID II—UK trading venues — Requirements for RMs, MTFs and OTFs — Pre- and post-trade transparency requirements for market operators. Post-trade Market operators and investment firms operating a trading venue are required to make public the price, volume and time of the transactions executed in respect of shares and other equity-like instruments traded on that...

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FCA publishes Financial Lives 2024 survey report

The Financial Conduct Authority (FCA) has published its Financial Lives 2024 survey report, which presents findings on the financial resilience of UK consumers. The report shows that a significant portion of the population lacks cash savings, with one in ten individuals having none and 21% possessing less than £1,000 for emergencies. Additionally, the survey shows that one in four people experience challenges in maintaining financial commitments, often resulting in missed payments. The report notes that access to debt advice services has been associated with improved management of financial pressures for 61% of users. The FCA states that it has observed progress in banking access, evidenced by increased current account ownership and a reduction in digital exclusion from 14% in 2017 to 2% in the current study.

Immigration weekly highlights—15 May 2025

Welcome to the 15 May 2025 highlights from the Immigration team, which provides links to key news stories from the last week, as well as a round-up of new and updated content in Immigration.

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