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This inaugural address (June 5th, 2008) discusses water law from the perspective of the protection of water rights, granted in European and Dutch water Law, with a focus on a fair distribution of water rights. It looks for a connection between classical protection and regulation of water and new governance approaches. Special attention is paid to the legal consequences of the transnational river basin approach, especially the formulation and scope of water rights, the allocation and granting of powers, existing and new control mechanisms to protect water rights, joint responsibilities and conflict management.