Win 7 is very possessive, it doesn't like the user, you, looking into most of the folders on your hard drive..It guards them jealously and you have to beg, even supplicate to be able to view the contents or delete a folder...
To TAKE OWNERSHIP means that YOU and not WIN 7 own the right to look in those folders..
It means that you don't get the "ACESS DENIED" popup...
It means that you can give Win 7 the finger....