Royalty Payment
/ˈrɔɪəlti ˈpeɪmənt/
Definitions
- (n.) A payment made to an owner or rights holder for the ongoing use of their intellectual property, natural resources, or franchise rights.
The author receives a royalty payment for each copy of her book sold.
Forms
- royalty payment
- royalty payments
Related terms
See also
Commentary
Royalty payments are typically specified in contracts and often calculated as a percentage of revenue or a fixed amount per unit sold.
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.