Usually means: Capable of being legally possessed.
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We found 3 dictionaries that define the word ownable:

General (3 matching dictionaries)
  1. ownable: Collins English Dictionary
  2. ownable: Wordnik
  3. ownable: Wiktionary

Definitions from Wiktionary (ownable)

adjective:  Capable of being owned
noun:  Something that can be owned; a commodity or item of property.

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