Common Goods
/ˈkɒmən ɡʊdz/
Definitions
- (n.) Resources or assets that are owned collectively by a community and accessible to all members, often subject to legal frameworks regulating use and preservation.
The community managed the forest as common goods to ensure sustainability.
Forms
- common goods
Related terms
See also
Commentary
Common goods differ from private property in that they are held in common rather than individually owned, requiring specific legal mechanisms for governance and protection.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.