Final answer:
A natural person or a legal person holds the private property rights regime, allowing ownership and use of property at their discretion and the ability to contractually agree on its use, essential for economic growth and market efficiency.
Step-by-step explanation:
A natural person or a legal person holds the private property rights regime. This concept is integral to both natural law and legal rights. Under this regime, individuals and firms have the right to own property and use it according to their preferences, which includes the ability to enter into contracts regarding the use of their property. These property rights are essential for functioning markets, economic growth, and the overall improvements in the standard of living. In the Enlightenment era, philosophers like John Locke and Thomas Hobbes contributed significantly to the discourse on natural rights, emphasizing their universality and inalienability.