Error: Required Privilege Not Held (when using the Backup command)

Error: Required Privilege Not Held (when using the Backup command)

Problem: When I use the Titan Backup Server Configuration feature in the Titan Administrator, I receive an error indicating "Required privilege is not held by the client".

Solution: In order to use this feature, your NT/2K/XP user account must have the Back Up Files And Directories right as specified in the Local Security Policy settings. Note: even if you are an Administrator on the machine, it is possible that this right is not set.      
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