Possessions, or ownership, refer to the legal right to control and use an item or property. This can include tangible items like clothes, furniture, and vehicles, as well as intangible assets such as stocks or intellectual property. Ownership grants individuals the ability to sell, give away, or modify their possessions as they see fit. The concept of ownership is often protected by laws that vary by country. These laws help define the rights and responsibilities of owners, ensuring that possessions cannot be taken without consent. Understanding ownership is essential for personal finance and property management.