The Mike's bike - this is the most natural form for a person to own an object. The bike of Mike - we don't use this form, except for very special cases: eg. The House of Windsor (The royal family in Great Britain).
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AnonymousSo we use this formulation (Mike's bike) only when we want tell an object belong to a person ?Yes. Almost always.
AnonymousSo we use this formulation (Mike's bike) only when we want tell an object belong to a person ?I thought of another counter-example. You will see this form often in the context of mythology, such as:
AlpheccaStarsYou will see it this form often in the context of mythologyGood point!