Social ownership refers to a system where the means of production, such as factories and resources, are owned collectively by the community or the state rather than by private individuals. This approach aims to ensure that the benefits of production are distributed more equitably among all members of society, rather than being concentrated in the hands of a few. In practice, social ownership can take various forms, including cooperatives, where workers collectively manage a business, or public enterprises, which are owned and operated by the government. The goal is to promote social welfare and reduce economic inequality through shared control and benefits.