The concept of "lord" is one of the fundamental principles of a kingdom. It is this quality of lordship that distinguishes a king from a president, a prime minister, a mayor or a governor. Lordship makes a king unique.
All kings are automatically lords. King relates to dominion, while lord relates to domain. The word dominion refers to a king's authority; his power. The word domain refers to the territory over which his authority extends. A king exercises authority over a specific geographical area and within that area his authority is absolute.
Kingship has to do with authority, and lordship has to do with ownership. All true kings must have and own territory. This is the kingdom lordship principle.
As lord, a king literally and legally owns everything in his domain. If the king owns everything, then no one in the kingdom owns anything. If the king owns everything, he can give anything to anyone at any time according to his own sovereign choice.
Because a king's dominion is so closely tied to territory, his wealth is measured by the size and richness of his domain. The larger and richer their domain, the greater their reputation and glory.