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What does COLLECTIVE OWNERSHIP mean? COLLECTIVE OWNERSHIP meaning - COLLECTIVE OWNERSHIP definition - COLLECTIVE OWNERSHIP explanation. What is the meaning of COLLECTIVE OWNERSHIP? What is the definition of COLLECTIVE OWNERSHIP? What does COLLECTIVE OWNERSHIP stand for? What is COLLECTIVE OWNERSHIP meaning? What is COLLECTIVE OWNERSHIP definition?

Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.

Collective ownership is the ownership of means of production by all members of a group for the benefit of all its members. The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise (such as one collective farm). In the latter (narrower) sense the term is distinguished from common ownership and the commons, which implies open-access, the holding of assets in common, and the negation of ownership.

Collective ownership of the means of production is the defining characteristic of socialism, where "collective ownership" can refer to ownership by all of society or to cooperative ownership by an organization's members. It more commonly refers to group ownership (such as through a cooperative organization) as contrasted with public ownership.