Land you can defend is "territory." Land other people will defend on your behalf is "property."

The key distinction between the two is that nerds like us on Hacker News can't defend territory. Without ganging up together to ensure collective defense, we're at the mercy of the physically strong. Without society, nerds have nothing to trade for security. That's why before the existence of democratic government, the western world was dominated by military men (feudal barons), not businessmen or intellectual men.