Beneficial ownership is enjoyed by anyone who has the benefits of ownership of a security or property, and yet does not nominally own the asset itself. Webster's defines a beneficial owner as "one who enjoys the benefit of a property of which another is the legal owner." In US securities law, a beneficial owner (as distinct from a "nominee owner," "registered owner," or "record holder") of a security includes any person who, directly or indirectly, has or shares voting or investment power.