Even for simple assets the concept of ownership is more complex than it might seem at first sight. Take a hi-fi system; you are to use it when you want, according to noise level you are permitted to play it at is often limited by law, according to time of day. We can now see that the owner has residual rights of control, in the sense that the owner’s decisions regarding the asset’s use are circumscribed by law and by other contract involving the rights of other parties use of the asset.