What is the meaning of Sovereignty?

The quality or state of being sovereign.

Of a ruler (especially a monarch): supreme authority or dominion over something.

Of a nation or other polity: the state of being able to control resources, make laws independently, and otherwise govern itself without the coercion or concurrence of other polities.

Of a person: the liberty to decide one's actions and thoughts.

Pre-eminent or superior excellence; also, superior ability to achieve something; mastery.

A territory under the rule of a sovereign; an independent or self-governing nation or other polity.

Source: wiktionary.org