Ditto! Same experience :D
Realized you used "Ownership" in that comment? ;p
Both of language and in approach.
There's innumerable ways to get from A to B. If everyone knows that if someone says "Widgetification" then they mean X & that the standard way of accomplishing the task is Corporate Approach Y, then everyone can get back to work having saved time in communication.
So I think there's definitely an efficiency case to be made.
PS: I'm aware it's used for evil (anti-organized labor, preventing valid workplace lawsuits, covering management's ass, etc) at a lot of shops too.