right

1. General: (1) Justified, recognized, and protected (violation of which is unlawful) claim on, or interest in, specific tangible or intangible property. (2) Freedom, immunity, power, or privilege, due to one by agreement, birth, claim, guaranty, or by the application of legal, moral, or natural principles. Rights are divided into two main categories: (A) Liberty: right to something a right-holder cannot be prevented from, such as to speak freely or follow a particular belief, and (B) License: right to do something which is otherwise illegal, such as to sell liquor or drive a powered vehicle. Other categories of rights include: (1) Alienable: rights that can be taken away or transferred, such a property rights. (2) Civil: rights that accrue to all citizens of a country, such as rights to equality, good governance, and justice. (3) Entitlement: rights that specify what their holders would receive, such as an office holder's rights, or beneficiary's rights under a trust. (4) Human: rights that belong to every member of humanity, such as rights to education, equity, fair-play, free association. (5) Inalienable: rights that cannot be taken away or transferred, such as right to justice or privacy. (6) Natural: rights that can neither be bestowed by a government nor abrogated by it, such as rights to life, liberty, and pursuit of happiness. (7) Prima facie: rights absolute in normal circumstances but which may be taken away in extraordinary situations, such as right to life annulled by a death penalty.

2. Securities: Short-term special security or option issued commonly to existing stockholders (shareholders) that allows them to buy a new issue at a discounted price. See also franchise, prerogative, and privilege.