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Having a Business that Runs Like Clockwork with Mike Michalowicz
Growth Think Tank
Psychological Ownership vs. Legal Ownership
Psychological ownership is the concept where individuals feel a greater sense of ownership and engagement when they have control and personal connection to something, even if they don't have legal ownership. This deep sense of ownership is not related to physical or legal ownership. For example, owning stock in a company doesn't necessarily give the same feeling of ownership as owning a car that is on a bank loan. This distinction between psychological and legal ownership is crucial for understanding how individuals perceive and engage with assets or entities they feel connected to.
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