Patent Royalty
/ˈpætənt ˈrɔɪəlti/
Definitions
- (n.) A payment made periodically by a licensee to a patent holder for the right to use or exploit the patented invention.
The company agreed to pay a patent royalty for each product sold using the patented technology.
Forms
- patent royalty
- patent royalties
Related terms
See also
Commentary
Patent royalties are typically negotiated as part of licensing agreements and may vary based on sales volume, territory, or usage.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.