Class Outline 1. Concept of Property 1. Five theories of property 1. Protect first possession 1. "First come, first serve” - Describes how property rights arose but not why it makes sense for society to recognize those rights 1. Especially in the early U.S with water, oil, gas, and natural resources 2. Encourage labor 1. Labor theory- if B picks all the nuts off all the unowned tree, and takes them home to eat, they are now B’s because they were acquired through labor 3. Maximize societal happiness 1. A means towards the end, for the welfare of all citizens ( If C’s ownership is protected for the nut tree, C will sell cute in the market/ use lumber to make a product) 2. There are 3 basic features of property rights for an economy to reach its full potential 1. Universality: All products must be owned by someone 2. Exclusivity: Exclude others from use 3. Transferability: Selling or leasing land 4. Ensure democracy 1. Civic republican theory: All people have a stake in society 5. Facilitate personal development 1. Personhood theory 1. Each person has a emotional connection to personal things 2. i.e. family tree 6. Pierson v Post 1. Rule of capture 1. Wild animals even in pursuit and wounded are not property and can still be intercepted, unless the animal is actually killed by the hunter. 2. Rules of capture do not apply to domesticated animals 3. Ownership of property with no original owner is determined by who possessed the property first 1. What constitutes possession is often driven by public policy 2. Property owners have constructive possession of wild animals on their land 3. Pets belong to their owners even if they escape 4. One who takes possession of wild animals while trespassing on the private land of another must surrender title 7. White v Samsung Electronics 1. The common law right of publicity was commercially used in plaintiff’s case and Vanna has an interest in her identity that is protected from that commercial use, and the law protects the celebrity’s sole right to exploit that value. Defendant’s claim of parody is rejected as well because the difference between a parody and a knock off is the
difference between fun and profit and that commercial was intended strictly to sell VCR’s 2. Common law right of publicity gives individuals a property right to the exclusive use of their name, likeness, voice, and identity for financial gain. 1. Plaintiff does not need to show a possibility of confusion. Only needs to show unauthorized use 2. Rights arise under state law under common law or statute. Some states don’t recognize the right 3. Right is not absolute, it is limited by the first amendment freedom of speech 1. In some states it is devisable and inheritable 2. What is property 1. Right to transfer 1.
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- Fall '08
- Common Law, Future interest