PROPRIETARY INETREST

Proprietary Interest a Pre-Requisite for an Equitable Tracing Claim

Proprietary Interest a Pre-Requisite for an Equitable Tracing Claim

Introduction

The main purpose of this paper is to highlight on the equitable tracing claims and the necessity of proprietary interest in the equitable tracing claims. Property is the legal power that allows you to use, enjoy and have a good claim; however, it is necessary that it must be exercised in harmony with the public interest and within the limits of the law. It is very necessary that for the proper maintenance of the equitable proprietary claims, the claimant should confirm the recovery of property. Another important point in this view is that fiduciary duty should be necessarily present there. However, the existence of the fiduciary relationship is not necessary under the common law as owner's legal title is mainly used for tracing the claims. Thus this paper makes an analysis on the importance of the proprietary interests in the equitable tracing claims.

Discussion

The property is a real right par excellence comprising all the faculties of man on the right, which gives the owner the right to use or make use of the good by nature. It is very necessary that the action claim may be presented as the legal means by which a person intends to obtain the restitution of ownership. Its exercise therefore requires that a third party has taken possession of property and the plaintiff in the action creeps owns the property (Battersby, 1991, p. 34). However, in the equitable tracing claim it is very necessary that the perfect proof of ownership should be provided. The perfect proof of ownership would require up the entire chain of transmission of the disputed property. However, if the regency of property can sometimes be afforded, this is usually not the case. It is therefore considered that the principle of ownership is proven by any means. To be more effective, as a means of proof, it is preferable that the possession is sufficient to grant the benefit of acquisitive prescription. However, if none of the parties cannot invoke while presenting each of conflicting evidence, certain indications lead to assume that ownership belongs to the applicant, and others think it is actually the defendant who holds thereby causing conflicts of evidence that the judge must resolve (Welstead, 1995, p. 56).

The intellectual property rights are also involved in the proprietary interest in equitable tracing claims. Property gives certain rights to the material things, such as the right to own a car and decide to use it. Intellectual property is also a set of exclusive rights, but not tangible things, like a car, but the "products of the mind."By "intellectual products" refers to creative services and intangible as a story, a musical composition, and the form of property, software or invention. Some distinctive signs such as trademarks and geographical indications also belong to the intellectual property. An intellectual property right grants its owner an exclusive right to exploit temporary territory. The holder of the copyright in a book ...