own

Vocabulary Word

Definition

To 'own' something means to possess it legally or have a rightful claim over it. Like if you own a house, it means it's yours and you have the legal papers to prove it.

Examples in Different Contexts

In business, 'own' often pertains to having equity or stakes in a company. An entrepreneur might say, 'I own a 40% share in that startup.'

Practice Scenarios

Business

Scenario:

Our goal is to increase market share. We need a strategy that allows us to expand efficiently.

Response:

Our focus should be on acquiring companies that we can own and bring under our brand umbrella.

Tech

Scenario:

The new application has a unique algorithm that could revolutionize data management. How can we secure it?

Response:

To secure it, we should own the patent. This way, its usage remains in our control.