Nolo Logo

Since 1971, Nolo's goal has been simple: Make America's legal system accessible to everyone. Our website, books, software, online legal forms and lawyer directory help millions of individuals, businesses and nonprofits solve their legal problems each year.

Small text sizeMedium text sizeLarge text size Print this page
 

Nolo’s Plain-English Law Dictionary

royalty
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.
Dictionary

Search the whole dictionary:

Bestsellers

Browse all books, software & legal forms >

Find A Lawyer

Enter zip or city, state ("Boston, MA")

Advertise Here

Attorney Profiles

Attorneys: Get Listed

Advertisement

Advertise Here
Ask a Real Estate Lawyer Online