Web Definition: Prizes
A prize is an award given to a person or a group of people to recognise & reward actions or achievements. Official prizes often involve monetary rewards as well as the fame that comes with them. Some prizes are also associated with extravagant awarding ceremonies, such as the Oscars. to highlight noteworthy or exemplary behaviour & to provide incentives in competitions, etc In general, prizes are regarded in a positive light & their winners are admired. However, many prizes, especially the more famous ones, have often caused controversy & jealousy. The most common use of prize in this sense is the capture of an enemy ship & its cargo. In the past it was common that the capturing force would be alloted a share of the worth of the captured prize. Nations often granted letters of marque which would entitle private parties to capture enemy property, usually ships.
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