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Full-Text Articles in Law
Property And Local Knowledge, Malcolm Lavoie
Property And Local Knowledge, Malcolm Lavoie
Catholic University Law Review
Property rights play an important but largely under-appreciated role in channeling local knowledge into decisions about physical resources. Property devolves decision-making authority to a dispersed pool of owners, who are likely to be aware of local conditions relevant to their resources. As a result, property owners are often in a position to make better-informed decisions about the use of the resource than other parties. The homeowner who preemptively repairs an old roof, the retailer who offers a new product for sale, and the farmer who decides to switch crops are all decision-makers who are empowered through property rights to act …
The Accession Insight And Patent Infringement Remedies, Peter Lee
The Accession Insight And Patent Infringement Remedies, Peter Lee
Michigan Law Review
What is the appropriate allocation of rights and obligations when one party, without authorization, substantially improves the property of another? According to the doctrine of accession, a good faith improver may take title to such improved property, subject to compensating the original owner for the value of the source materials. While shifting title to a converter seems like a remarkable remedy, this outcome merely underscores the equitable nature of accession, which aims for fair allocation of property rights and compensation between two parties who both have plausible claims to an improved asset. This Article draws upon accession-a physical property doctrine …
Accession And Original Ownership, Thomas W. Merrill
Accession And Original Ownership, Thomas W. Merrill
Faculty Scholarship
Although first possession is generally assumed to be the dominant means of establishing original ownership of property, there is a second but less studied principle for initiating ownership, called accession, which awards new resources to the owner of existing property most prominently connected to the new resource. Accession applies across a wide variety of areas, from determining rights to baby animals and growing crops to determining ownership of derivative rights under intellectual property laws. Accession shares common features with first possession, in that both principles assign ownership uniquely in a way that imposes minimal information cost burdens on society. But …