It might sound a bit too RP, but it's how I see it. What it means (to me) is if I die at the hands of a player on Siege, then my goods are his by right of conquest. If I've lost something I wished I'd remembered to leave at home I will ask, politely, if my murderer would be willing to sell the item back (sell, not give). If the answer is 'no'. Then I kick myself severely for not leaving the item at home, go make myself a new suit and then explore the possibilities of finding a replacement for the specific lost item. I think there are a few people playing the shard who would do well to understand and accept 'right of conquest' as I do.