Property is normally lost when the property owner loses the ownership by forgetfulness, neglect, accident or any other means and when the owner had no intention of leaving that particular property. Misplaced property is due to the nature of the owner to forget and leave behind some stuff either on the table for instance. The differences between lost and misplaced property focus on the intention of the owner. The lost property takes place due to the inadvertence, carelessness, and neglect of the owner. The owner has the right to report to the relevant authority about the lost property and if the finder of the property is found, the owner will claim the property free of charge (May & Sell, 2013). On the other hand, the finder has the right of reporting the gotten property he or she found, if the owner of the property is not identified on a specified period of time. say, 3 months the finder will have the right of owning the property found.
May, C., & Sell, S. K. (2013). Intellectual property rights: A critical history (pp. 5-11). Boulder:
Lynne Rienner Publishers.