Royalties
/ˈrɔɪəltiz/
Definitions
- (n.) Payments made to the owner of intellectual property or natural resources for the right to use, produce, or sell the property or resource.
The author receives royalties from book sales.
- (n.) Periodic payments made to landowners or rights holders for mineral extraction, such as oil or gas.
The company pays royalties to the landowner for drilling rights.
Forms
- royalty
Related terms
See also
Commentary
Distinct from license fees, royalties are typically contingent payments calculated as a percentage of revenue or production, reflecting ongoing use rather than a one-time purchase.
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.