Meaning of the word proprietorship in English

What does proprietorship mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

proprietorship

US /prəˈpraɪ.ə.tər.ʃɪp/
UK /prəˈpraɪətəʃɪp/

Noun

the state or right of owning a business or property

Example:
He retained full proprietorship of the company.
The small shop was under sole proprietorship.