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Royalty

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia, Hutchinson 0.03 sec.
Royalty
Payment for the right to use intellectual property or natural resources.
royalty
The compensation that is paid to the owner of an asset based on income earned by the asset's user. For example, an oil company pays royalties to the owners of mineral rights, and a book publisher compensates its authors with royalty payments.
Royalty
A payment received for the right to exploit a taxpayer's ownership of natural resources or a taxpayer's literary, musical, or artistic creation.


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