In Joint sector What is meaning of Ownership i am unable to understand meaning of Ownership as per economics subject plz help me i need in simple language plz

Dear Student,

In a joint sector the ownership, control and management are shared jointly by the Government, the private entre­preneurs and the public at large. The management and control of a joint sector enterprise lies with the nominees or representatives of the Government, private businessmen and the public

Ownership means:

- The state or fact of being an owner

- The act of having and controlling property

- Legal right to the possession of a thing

Regards