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Can my parents take away items that I've purchased?

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I have been saving for over two years for a laptop. Finally I bought one about a month ago. Do my parents have the right to tell me I can't have full control over something I purchased? Or say I can't use it for a week? Is there like some issue with that? Because I have it and I can not use it regularly because I can't update my iPod, play a game, or go on myspace.

All together... Do my parents have the right to tell me I can't use what I bought? And can't I use it whenever for whatever I want?

I paid for it entirely. I had no help from them. I find it unfair that I dont have full rights to what I bought with MY own money. Please help me!