On the basis of ownership, resources can be classified as (1) Individual or Community-owned resources and (2) Natural or International resources. Individual resources are the resources that are privately owned by individuals whereas community-owned resources are those that belong to the entire community and are accessible to all the members. All the resources such as minerals, water resources, forests, etc. found in a nation and up to 12 nautical miles from the coastline belong to the nation. Oceanic resources beyond 200 nm are regulated by international institutions.