royalty

Royalty

A payment to an owner for the use of property, especially patents, copyrighted works, franchises, or natural resources.

Notes:

Royalties are usually expressed as a percentage of the revenues obtained through the use of the owner's property.

See also: Commission, Patent

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Royalty

Payment for the right to use intellectual property or natural resources.

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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.