Legal Definition of Privilege: A benefit or right enjoyed by an individual, a group of people, a company, etcetera, not enjoyed by others; special dispensation; an exemption from the performance of some act that others are required to perform; an immunity | Unlocking the Power of Privilege: Learn the Legal Definition and Importance. Discover the benefits and exemptions that privilege provides, from attorney-client confidentiality to executive authority. Understand how privilege maintains fairness, confidentiality, and fosters innovation in legal, governmental, and business environments