The concept of property most people have is the idea of “Property Rights”. Property Rights is the idea that an individual has control over their “own” property. For example, private property can include real estate, stocks, copyrights, etc. Depending on how extreme an economic system can go, one could argue that things like air and water can be privatized. For the most part, we can say that items that aren't essential for survival can be privatized. On the other hand, we can have public property or collective property. This type property is owned by a group or everyone; the use of it is determined by the collective will of the owners.
There are two main types of property: tangible property and intangible property. For my research question, I'll be focusing on intangible property.
In essence, intangible property is property that isn't physical. Stocks, which I mentioned before, are an example of intangible property. When you have a stock of a company, you don't have any physical ownership of it. You don't have ownership over its infrastructure, machinery, intellectual property, etc. In other words, the stockholder has no ownership over the company's capital (non-human resources). Despite this, the stock still has legitimate value in the real world, as the stockholder has some sort of ownership of the company. This is due to the fact that the stockholder has directly invested their money into the company. As the company grows, the stock’s value grows, despite the item being intangible.
Relating back to my topic of irrational property, intangible private property is an important concept. Even non-physical property may have some real world merit like with the concepts of stocks. I may not be able to have a physical claim on something, though my invested money is being rewarded with the theoretical ownership of a company.