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roy·al·ty n pl -ties1: a right delegated (as to an individual or corporation) by a sovereign2 a: a share of the profit or product reserved by the grantor esp. of an oil or mineral lease compare overriding royaltyb: a payment made to an author or composer for each copy of a work sold or to an inventor for each article sold under a patent
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
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In return for a licence to use intellectual property rights (IPR) the licensee is generally required to pay a royalty. This is normally assessed on sales of products or services incorporating the IPR and payable periodically. However it may also be payable in one lump sum, in advance or otherwise. If the licence is associated with the supply of products or materials, the royalty may well be built into the supply price for the goods.
Easyform Glossary of Law Terms. — UK law terms.
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n.A percentage of the proceeds from the sale of a literary work, recording, or other intellectual property that is paid to the author, creator, or owner of the work by the person or company that is selling it.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
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1) A form of compensation based on a percentage of revenue or unit sales generated under an agreement, typically a patent or copyright licensing contract.2) A compulsory payment required under statute in exchange for the right to use or sell certain property — for example, a statutory royalty that is paid by the sellers of musical ringtones to the copyright owners of the underlying songs.Category: Patent, Copyright & Trademark → Copyright LawCategory: Patent, Copyright & Trademark → Patent Law
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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n.1 A payment made to the creator of an intellectual property (author, inventor, and so on) for each copy of the property that is sold.2 A share of the profit derived from real property that is reserved for the owner in exchange for granting a lessee, who is going to mine or drill the mineral rights on that land.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
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Compensation for the use of property, usually copyrighted works, patented inventions, or natural resources, expressed as a percentage of receipts from using the property or as a payment for each unit produced.
Dictionary from West's Encyclopedia of American Law. 2005.
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Compensation for the use of property, usually copyrighted works, patented inventions, or natural resources, expressed as a percentage of receipts from using the property or as a payment for each unit produced.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
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n.a percentage of gross or net profit or a fixed amount per sale to which a creator of a work is entitled which is determined by contract between the creator and the manufacturer, publisher, agent and/or distributor. Inventors, authors, movie makers, scriptwriters, music composers, musicians and other creators contract with the manufacturers, publishers, movie production companies and distributors, as well as producers and distributors for a license to manufacture and/or sell the product, who pay a royalty to the creator based on a percentage of funds received. Should someone use another person's creation either purposely or by mistake, the user could be found liable to the creator for all profits on the basis of copyright or patent infringement, which usually is far more than a royalty. However, a creator does not have to license his/her creation to anyone.
Law dictionary. EdwART. 2013.
