What are "all the rights and privileges pertaining thereto"? It is common language in graduation ceremonies, at least in the United States, to hear a degree conferred with "all the rights and privileges pertaining thereto." How would one discover what the rights and privileges pertaining to a MA or PhD degree actually are?
Each of my diplomas says my degree is awarded "with all of its privileges and obligations" or something close to that.  I know of neither an official codification nor a learned treatment of the privileges and obligations involved.

But, along with Thomas Aquinas, C. S. Lewis, and Mr. Spock, as opposed to David Hume and Cmdr. Data, I hold that values are logical.  So I deduce that:


The "privileges" include putting the degree on your curriculum vitae so you can get jobs requiring a degree;
The obligations include honesty about the subject matter in which you are supposed to have some expertise.