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It was a gift. Orcrist was a gift several times over. Before Thorin had fully adjusted the harness and scabbard for best fit the blade had given swift death to orc and warg alike, singing in his hand. Lord Elrond, who by kin-right had undoubted claim to the blade, had, after pronouncing it's history, given it back into Thorin's hand with formal blessing. In the goblin warrens and dens it had earned it's name over and over, cleaving goblins with ruthless, sharp efficiency. It had withstood the defiler and dispatched the loathsome spider-spawn. The Elf was the thief, not Thorin.
