How can a Lack of Property Rights result in Market Failure? How can we not allow that? [Regulation]

-Absence can lead to Negative Production and Consumption Externality Externalities, and therefore Market Failure. A Factory may emit Wastes to the Water, and wouldn't be Accountable if the River didn't have Property Rights -Giving Property Rights ensures that the Externalities are Accounted - Fined, Charged even Arrested.