Answer: property rights and obligations
Step-by-step explanation:
The property rights and obligations are those theoretical and legal ownership for the resources. These resources can be tangible or intangible in nature. The property rights are owned by the individuals, government and the businesses.
The individuals can exercise their private property rights by accommodating in the property, hold, rent or sell the property. The property rights can be used for the purpose of market exchange, allocation of the rights of the property and society can affect the efficiency for the use of property resource.
The individuals and the organizations have the concerned rights for the purpose of intellectual property.