possesspos·sess /pəˈzes/ verb [transitiveT] formal1to own or have something, especially something valuable or important, or something illegalThe US is the only country that possesses global economic, military and political power.
Judges rarely send people to jail for possessing illegal drugs, but they jail people for selling them.
2to have a characteristic or abilityHe possesses the qualities required to manage the organization’s varied commercial interests.