If “in its own right” is interpreted as “never requiring an indicator for understanding,” homonymous words appear problematic. A shared expression may need help to select one sense, even though each recognized sense belongs to its conventional semantic inventory.
The resolution lies in separating two levels: possessing conventionally assigned significance and identifying the specific sense intended in a particular utterance. An indicator may operate at the latter level without replacing the former.
Thus the mere need for context does not make every occurrence figurative, nor does the existence of ambiguity invalidate the idea of linguistic assignment.