What does the term laureate mean?

A laureate is a person who has been honored for their achievements in a given field.

In ancient Greece, laurel wreaths were given to Olympic champions. The laurel is the root of the Word laureate, one who has earned a laurel.

These days, a laureate is often a title in and of itself. For example, a number of countries recognize a Poet Laureate, a figurative head poet in charge of encouraging that nation's poetry. In the United States, the Poet Laureate is often called upon to create and recite an original composition as part of the inauguration ceremony honoring a new president.