I present and defend Reinach's theory of ownership according to which, prior to the positive law, one finds a distinction between possession, ownership and property rights. Ownership is not a bundle of positive rights, but a primitive natural relation that grounds the absolute right to behave as one wishes towards the thing one owns. In reply to some objections raised against it, I argue that Reinach's theory of property is morally and politically non-committal; and that it in fact has the (...) ressources for dealing with the vexing issue of the origin of ownership. (shrink)