ChanServ provides you the ability to own and control a channel (chat room).
There are more advanced commands on how to use it by using /ChanServ help
ChanServ requires that you be registered and identified with NickServ.
Any channels you register will be tied to the currently logged in Nick.

Channel Registration:
/ChanServ Register <#channel>
(IE /ChanServ register #Lobby)
This allows you to register a channel to your nickname effectively taking ownership of the channel.
This does not work if you are not an operator of the channel when registering.
Registration may require approval from staff.

Invite yourself to invite only channel:
/ChanServ invite <#channel>
(IE /ChanServ invite #Lobby)
This will have ChanServ invite you into an invite only room you have permissions to.

Advanced Settings:
/ChanServ Help set - /ChanServ set
This command will give you a list of options you can set and control for your channel.