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Business law: Eminent domain is the constitutional principle that the government can take private property from an owner for a public purpose with fair compensation.

Business law:

Eminent domain is the constitutional principle that the government can take private property from an owner for a public purpose with fair compensation. Examples would be to build an airport, a park, or a highway. One controversial Supreme Court case allowed a city government to transfer ownership from one set of owners to a private corporation for a new headquarters building. The city said it was for "urban renewal" and would bring in more money for the city. Share your thoughts about whether this is a fair public use or if that transfer or ownership should not have been allowed.

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