The word "vested" refers to something that is secured, established, or granted to someone, often in a legal or formal context. It is commonly used to describe rights, interests, or benefits that are conferred and cannot easily be taken away. For example, an employee may have vested retirement benefits after working for a company for a certain number of years, meaning they have earned a right to those benefits.
The word "vested" comes from the Latin word "vestire," meaning "to dress" or "to clothe." In legal terms, it signifies being clothed with a right, authority, or privilege.