It's considered LOST PROPERTY
LOST PROPERTYProperty is generally deemed to have been lost if it is found in a place
where the true owner likely did not intend to set it down, and where it is
not likely to be found by the true owner. At common law, the finder of a lost item could claim the right to possess the item against any person
except the true owner or any previous possessors.The underlying policy goals to these distinctions are to (hopefully) see that the property is returned to its true original owner, or "title owner." Most jurisdictions have now enacted statutes requiring that the finder of lost property turn it in to the proper authorities;
if the true owner does not arrive to claim the property within a certain period of time, the property is returned to the finder as his own, or is disposed of.
In Britain, many public businesses have a lost property desk, which in the United States would be called a lost and found.
Many exceptions may be applied at common law to the rule that the first finder of lost property has a superior claim of right over any other person except the previous owner.
A disc found IS NOT, Unclaimed Property, Mislaid Property nor Abandoned Property
Unclaimed Property - unclaimed bank accounts, stocks, insurance proceeds, utility deposits, un-cashed checks and other forms of "personal property" are reported first to the individual state's Unclaimed Property Office,
Mislaid property - Property is generally deemed to have been mislaid or misplaced if it is found in a place where the true owner likely did intend to set it, but then simply forgot to pick it up again
Abandoned property - Property is generally deemed to have been abandoned if it is found in a place where the true owner likely intended to leave it, but is in such a condition that it is apparent that he or she has no intention of returning to claim it.
* * * Finder didn't do the proper thing, contact the legit owner.After GBO, and Trilogy I see local folks walking through the ponds, Jones East/West and ESPECIALLY PP, #10 through #12, picking up discs "found" there. I asked them what do they do with them and they said they clean them up and sell them online or to friends who play.
I replied, "But some of them have the owner's name/number on it. Do you call any of them?
"Nope" they replied. "If they wanted it that bad, why didn't they go in and get it like we did?"
"But it's during a tourney and there is a "lost and found" up at the check-in site?"
"So" was their reply.
"How would you feel if you lost a disc during a tourney and wanted it back?"
He replied, "Tell the dude to buy it online or come down here and pay me a couple of bucks..."
I left more than a lil p*ssed but didn't want to cause a scene there during my round.
* * * Having said that, Hyzer is "right", again.

Don't wanna lose it? Don't throw it where it
COULD "
get lost." Take the safe route, lay up, putt out and walk away knowing you still have all your discs.