Neutral in the Force, this plain silver ring enhances a Force sensitive person's mental strength and desire in the path chosen by said person. After wearing it for a while (usually 1 - 3 months), the clarity so gained stays even without the ring and makes it less likely for someone to stray from this path.
Back in the days of the Old Republic, a Jedi named Kevlan Daar mistook it to be a pure Artefact of the Light Side, as it helped his less valiant students to keep on the path and develop into perfect followers of their way. Only after the ring was stolen by a young wannabe Sith named Cheit did they found out his mistake. Formerly wavering in following the Dark Side, Cheit gained the courage and will to defeat the Jedi , even if it took her some years. Since that time, the Ring of Valor has gone through the hands of several Sith and Krath and has taken on a slight affinity towards the Dark Side.
In training, the ring can be used to let students fell how they could be if they would apply themselves better even without letting them wear the ring for long.
Records
Clan Taldryan won a large fiction competition hosted by KHP Arania Lawakiro and the pre-approved award for the top Clan was the Ring of Valor. This came at a time when the current Grand Master, Archibald Zoraan, had personal issues with Clan Taldryan and it's leader. Zoraan didn't want the ring given to a "traitor Clan", and the Deputy Grand Master told the Krath High Priestess to hold off with it for the time being. After the Zoraan Uprising the ring was left forgotten and only resurfaced four Grand Masters later.