preemptive right

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noun

a privilege given to an existing shareholder to buy a portion of a new stock issue at the offering price on a pro-rata per-share basis.

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Origin of preemptive right

First recorded in 1850–55

I disapprove of what you say, but I will defend to the death your right to say it.
The Muslim Cop Killed by Terrorists|Michael Daly|January 9, 2015|DAILY BEAST
Everywhere I go, ‘Hey Cartman, you must like Family Guy, right?’
Trolls and Martyrdom: Je Ne Suis Pas Charlie|Arthur Chu|January 9, 2015|DAILY BEAST
Charlie ridiculed my faith and culture and I died defending his right to do so.
The Muslim Cop Killed by Terrorists|Michael Daly|January 9, 2015|DAILY BEAST
Gay marriage was the hot-button fight on the left and right.
Jeb Bush’s Unseen Anti-Gay Marriage Emails|Jackie Kucinich|January 9, 2015|DAILY BEAST

It is grandstanding for a right rarely protected unless under immediate attack.
Politicians Only Love Journalists When They're Dead|Luke O’Neil|January 8, 2015|DAILY BEAST
What need to look to right or left when you are swallowing up free mile after mile of dizzying road?
The Joyous Adventures of Aristide Pujol|William J. Locke
Mrs. Wurzel was quite right; they had been supplied, regardless of cost, from Messrs. Rochet and Stole's well-known establishment.
The Pit Town Coronet, Volume I (of 3)|Charles James Wills
She is quite true, but not wise, and your left hand must not know what your right hand is doing.
Checkmate|Joseph Sheridan Le Fanu
In Spain he was regarded as the right arm of the ultra-clericals and a possible supporter of Carlism.
The Philippine Islands|John Foreman
The thought seemed to produce the dreaded object, for next moment a large hummock appeared right ahead.
The Giant of the North|R.M. Ballantyne