The introduction of co-management is often associated with recognition and allocation of property rights. This chapter therefore provides definitions of the concepts of property, property rights and property regimes. Systems informed by economic theory to provide ‘user rights’ are reviewed in relation to collaborative governance, including Transferable Quota systems and Territorial User Rights for Fishing. Given that rights may be contested and not realised in practice, the chapter goes on to consider the pursuit and realisation of justice through co-management, differentiating between procedural, distribution and recognition justice. Insights from the application of a human rights based approach to natural resource governance and implications for co-management are then identified.