Conquering is the act of attacking the target, winning and making them your subject.
At first you can only conquer 1 player. Through prestige you are later allowed to conquer up to 5 players.
When a subject collects taxes, an addtional 10% of their revenue is generated and sent to their overlord.
There is no gameplay penalty to being conquered. It is a wise move to allow fellow alliance members or friends to conquer you so that someone is benefitting from your tax collections.
The only way to overthrow your overlord is to attempt to conquer him in return. This requires an empty subject slot. If your overlord has been conquered by another player, you must fight your overlords overlord in order to be free of your overlord.
If that last sentence confused you, here is alternate explanation.
- Player A is conquered by Player B
- Player B is conquered by Player C
- Player A attempts to overthrow his overlord, Player B
- Player A fights Player B's overlord, Player C
- Player A beats Player C
- Player B is now Player A's subject
- Player A is without an overlord
- Player C lost a subject