请参考《布莱克法律词典》的释义：
CLAIM

claim, n. 1. The aggregate of operative facts giving rise to a right enforceable by a court . — Also termed claim for relief. 2. The assertion of an existing right; any right to payment or to an equitable remedy, even if contingent or provisional . 3. A demand for money, property, or a legal remedy to which one asserts a right; esp., the part of a complaint in a civil action specifying what relief the plaintiff asks for. [Cases: Federal Civil Procedure 680; Pleading 72. C.J.S. Pleading §§ 110–115.] 4. An interest or remedy recognized at law; the means by which a person can obtain a privilege, possession, or enjoyment of a right or thing; CAUSE OF ACTION(1) . 5. Bankruptcy. A right to payment or to an equitable remedy for breach of performance if the breach gives rise to a right to payment. • It does not matter whether the right has been reduced to judgment or whether it is liquidated or unliquidated, fixed or contingent, matured or unmatured, disputed or undisputed, or secured or unsecured. 6. Patents. PATENT CLAIM.

- Black’s Law Dictionary

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Note added at 1 day20 hrs (2013-09-02 13:43:48 GMT)
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最后一句是有点拧：
首先，前半部分“neither party shall be prevented from commencing and prosecuting”应该是饱受诟病的“legalese”，属于过度使用”shall“的情况，如果改成“both parties may commence and perosecute"意思基本不受影响。文中这种用法虽然饱受诟病，但律师群体用的还是比较多。

其次，后半部分当属语法错误，“, hereby waive”处缺少一些东西，应该加上连词以及/或者动词处理成动名词。这种情况在严谨的法律问题中非常少见。