In institutional economics, a relationship, such as ownership or leasehold, to an asset or a stream of income, as distinct from the income or asset itself. In a private ownership market economy, entitlements may be based on inheritance or transfer, or on acquisition of commodities through trade, entrepreneurship, or own labour. The concept of entitlements comes from law, and is useful to underscore institutional structure - whether of property ownership or a job contract. It links economic outcomes to social elements, the law and practice.