Property I

LAW 515-001 – Property I

Tuesday, August 29, 2017

10:28 AM

  • The individual landowner's right to exclude is "one of the most essential sticks in the bundle of rights that are commonly characterized as property."
  • The exclusive right and use of property is limited.
    • Can't infringe on others' rights
    • The right to exclude is not absolute.
  • The rule of transformation
    • If someone transforms something into an idea for something that helps society, they get property rights to that.


  • Discovery/Capture
    • Progression for property rights
      1. Idea of Capture
        • Rejected almost everywhere—not enough
      2. Probable Capture
      3. Actual Capture
    • How to:
      1. Intent
      2. Dominion and Control
        • Move past idea to make it clear with absolute certainty


Forms of Intellectual Property

  • Idea
  • Patents
    • Protected
  • Copyrights
    • Media transformed into a recognizable medium
    • Protected
  • Trademarks
    • Protected
      • Protects consumers' surety that it is what it says
  • Trade Secrets


Ideas are not protected until transformed into a protected form.

IP is transformed when it is more about what the person added than about the original.

Value is just added; it doesn't harm the original.


IP Protected when:

  • Good for business
  • Good for society


Celebrities must have the right of publicity balanced against the 1st Amendment.


Finders Law

  • Lost
    • Unintentionally parting with property
    • Right to possess given to the finder
  • Mislaid
    • Intentionally putting an item somewhere, yet forgetting where
    • Bailed to the locus owner so the true owner can find it
  • Abandoned
    • When one leaves an item and does not have intention to reclaim it
    • Actually belongs to the finder
  • Treasure Trove
    • Intentionally placed, but so old it's determined to be abandoned



  • Property
  • People
  • Place


Possession of property is sufficient title to give ownership.

Oldest possessor has the greatest ownership interest.

A new possessor will mature into the possessor of the property through first-in-time.


Created with Microsoft OneNote 2013.