Property rights refer to the legal ownership and control that individuals or entities have over tangible assets such as land, buildings, resources, and intellectual property. These rights are enforced by law and grant owners the ability to use, sell, lease, mortgage, or otherwise dispose of their property as they see fit within the bounds of the law. Property rights can be obtained through various means including purchase, inheritance, or homesteading, among others. The concept of property rights is a fundamental principle in many legal systems and plays an important role in economic theory, with strong protections for private property often seen as essential to promoting innovation, investment, and economic growth.