Learn Business English Vocabulary: Phrase Of the Week

Learn Business English vocabulary with our 'Phrase of the Week'! Each week, we introduce a new phrase to help you sound more natural and confident in your professional communication. Be sure to check our website regularly for new phrases and tips. Let’s get started!

This week's phrase:

TAKE OWNERSHIP OF THE PROJECT

phrase

to accept responsibility for the project and actively manage it

She took ownership of the project and completed it on time.

By taking ownership of the project, she became a leader in her team.

He took ownership of the project and made sure every expense was tracked.

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The word ownership can also refer to owning something—like a business, property, or item. It doesn’t always mean responsibility for a task.

For example, if you retain ownership of something, it means you still own it or keep legal rights to it.

She retained ownership of the company after the merger. (=She still owned the company even though it merged with another.)

He retained ownership of the land. (=He didn’t sell or give it away.)

Retain ownership of something is often used in legal and business contexts when discussing who holds the rights to something.

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Quiz

Choose the best option:

In 2002, the company relocated, but they _____ ownership of the building. They are now renting it out to another large company.

a) retained

b) took