What is 'eminent domain'?

Eminent domain refers to the government's authority to take private property for public use, provided that the property owner is compensated fairly. This principle is grounded in the belief that certain projects or needs of the public—such as roads, schools, or parks—can require the use of private land for the greater good of the community. The key aspect of eminent domain is the requirement of compensation, which is intended to ensure that property owners are not unfairly deprived of their assets without just recompense.

The concept balances the need for public development and infrastructure with respect for individual property rights, which is why it is a significant legal and governmental principle. While the other options discuss ownership rights, self-regulation, and protection against taxation, they do not relate to the fundamental idea of the government taking action to secure private property for public use, which is the essence of eminent domain.