Faction Right 5, in short, permits an Official Faction to request that another player's reputation is adjuested by the Admins to be hostile to the respective faction.
For example, a trader ship caught terrorising other lawful ships in house space could be FR5'd in that house so that they can no longer dock in that house.
It's important to note that FR5 is not a sanction, and is intended as a RP response to a RP situation.
Awesome, thanks. Are there faction rights 1-4, or 6+? A thread with a full list? Heh.