n. & v.
--n.
1. a a right, advantage, or immunity, belonging to a person, class, or office. b the freedom of members of a legislative assembly when speaking at its meetings.
2 a special benefit or honour (it is a privilege to meet you).
3 a monopoly or patent granted to an individual, corporation, etc.
4 US Stock Exch. an option.
--v.tr.
1. invest with a privilege.
2 (foll. by to + infin.) allow (a person) as a privilege (to do something).
3 (often foll. by from) exempt (a person from a liability etc.).
Derivatives:
privileged adj.
Etymology: ME f. OF privilege f. L privilegium bill or law affecting an individual, f. privus private + lex legis law