Just compensation refers to the legal requirement that individuals or entities must be fairly compensated when their property is taken for public use, as mandated by the Fifth Amendment of the U.S. Constitution. This principle ensures that property owners receive a monetary value that reflects the fair market value of their property at the time of the taking. The concept is often applied in cases of eminent domain, where the government acquires private property for projects like roads or schools. Just compensation aims to balance the needs of the public with the rights of property owners, ensuring they are not unfairly burdened by such actions.