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Modern enterprise system is defined as a new enterprise system based on market economy, with enterprise legal person system as the main body and company system as the core, with clear property rights, clear rights and responsibilities, separation of government from enterprise and scientific management as the conditions. Enterprises are formed on the basis of certain property rights relations, and there is a corresponding relationship between the behavior tendency of enterprises and the property rights structure of enterprises. The exchange of goods or services by enterprises in the market is essentially a property right transaction.
Enterprises are formed on the basis of certain property rights relations, and there is a corresponding relationship between the behavior tendency of enterprises and the property rights structure of enterprises. The exchange of goods or services by enterprises in the market is essentially a property right transaction. Therefore, to understand the enterprise system, we must start with the concept of property rights.
The so-called property right is the abbreviation of property right, which refers to property ownership and property rights related to property ownership. The basic connotation of property right includes ownership, possession, use right, income right and disposal right, which is a whole covering a group of rights. In this sense, the sum of property rights is equivalent to the concept of ownership. However, property rights and ownership are not the same. In the case of separation of inherent power of ownership, ownership is only a kind of property right, not the only form of expression, and property right represents a group of property rights related to the disposal of property rights objects. In this group of property rights, ownership is at the core, and all other property rights are derived from ownership.
Economic function of property right
(1) Protect the legitimate rights and interests of property owners. Property rights are exclusive, and the rights and interests of property owners are protected by law and shall not be infringed upon by others. This function of property right is an important legal pillar and foundation for maintaining ownership and production relations and stabilizing social and economic structure.
(2) It is beneficial to the optimal allocation of resources. Property rights are transferable and separable. Any transaction activity is essentially a transaction between different property rights, and clear property rights can provide a norm or constraint on economic behavior.
(3) Provide institutional basis for standardizing market transactions. Property rights emphasize rules or codes of conduct, which stipulate the boundaries and constraints of behavior rights of different rights subjects in the process of property existence and use. The complexity and clarity of property rights relations is an important feature of market economy, and it is also the legal basis for the smooth operation of market economy.
(4) Help to solve external problems. Externality refers to the loss or convenience caused by one economic party to the interests of the other party or other parties, which cannot be accurately measured by price and is difficult to be compensated or paid by market price. For some external problems, by clarifying property rights and negotiating on this basis, the parties may find a contractual arrangement that minimizes the loss of their respective interests.