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Who Owns the One Ring?

Via GeekPress: [The] Lord of the Rings as Property Law. and Property Law in The Lord of the Rings. The latter features an itemized list of all ways, licit and ill, in which the One Ring is acquired by its various ill-fated possessors. For example:

  1. Acquisition by Creation.

The Dark Lord Sauron forges the Ring of Power with the help of knowledge gained from the elven smiths of Eregion. His right to the Ring is thereby based on creation. The claim may be tenuous because it is not clear whether he made illegal use of the elves’ patented production processes (the suspicion of illegality is strengthened by the fact that Sauron made every effort to keep the elves from finding out what he was doing).