In a December 2017 interview with Songfacts, lead singer Ed Roland explained the inspiration behind "Precious Declaration":
That's after we did go through a breakup with the manager with "December." So, that was basically about going through a lawsuit. "Precious Declaration" is when they signed the release that we could continue being a band and continue on with our career. He got what he thought was his, and I got what I thought was mine. Hence, "Precious Declaration" means yours is yours, and mine you leave alone now.