To Own. To dominate, to defeat by a large margin.
NOTE: Only lonely virgin geek ass pricks use this term, and its other variations such as: own3d, 0wn3d, 0wned, etc.
A good way to tell if someone lacks a social life and is still a virgin is if they use this faggot ass word. Stupid nerd ass geeks.
"LMAOAMLAMOAML i just beat you for the 4th straight time in QUAKE, you got str8 OWNED!!!!"
"OMG i was in the chatroom and i OwNeD 2 girls with my funny jokes LMAOMALAMO! LMAOOOOOOO! OWNED!!!!!! OH FUCK!"