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Governance Property


Gregory S. Alexander


Cornell Law School

April 17, 2012

University of Pennsylvania Law Review, May 2012
Cornell Legal Studies Research Paper No. 12-14

Abstract:     
Exclusion theorists of property think that the concept of property properly concerns only the relations between owners and nonowners — that is, the external relationships of owners, or what we might call the “external life” of property. From this perspective, the internal relationships among property stakeholders — the “internal life” of property — are irrelevant from a conceptual point of view. I argue that this is a distorted and misleading view of property. To reveal this misconception, I distinguish between two types of property, which I call exclusion property and governance property. Governance property, not exclusion property, is the dominant mode of ownership today. the emergence of GP as the predominant form of property means that the right to exclude can no longer be considered the core of private ownership. The right to exclude, although important, is not central to GP; rather, internal governance mechanisms are essential.

Number of Pages in PDF File: 25

Keywords: Property, rights, exclusion, governance

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Date posted: April 18, 2012  

Suggested Citation

Alexander, Gregory S., Governance Property (April 17, 2012). University of Pennsylvania Law Review, May 2012; Cornell Legal Studies Research Paper No. 12-14 . Available at SSRN: http://ssrn.com/abstract=2041491

Contact Information

Gregory S. Alexander (Contact Author)
Cornell Law School ( email )
524 College Ave
Myron Taylor Hall
Ithaca, NY 14853
United States
607-255-3504 (Phone)
607-255-7193 (Fax)
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