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LSDefine

Simple English definitions for legal terms

established royalty

Read a random definition: international private law

A quick definition of established royalty:

Established royalty means a set price that someone has agreed to pay for using something that belongs to someone else. This is usually used for things like books or inventions that have a copyright or patent. If there is no set price, a court will decide what a fair price would be. This fair price is called a reasonable royalty, which is what someone would be willing to pay while still making a profit. This is important in cases where someone has used something without permission, and they have to pay for it.

A more thorough explanation:

Established royalty refers to a payment made to an author or inventor for each copy of their work or article sold under a copyright or patent. It is a royalty that is set at an agreed-on price.

For example, if an author writes a book and agrees to receive $1 for every copy sold, that is an established royalty. In the absence of an established royalty, a court will determine a remedy for infringement based on what a reasonable royalty would have been.

A reasonable royalty is a royalty that a licensee would be willing to pay the holder of the thing's intellectual-property rights while still making a reasonable profit from its use. The reasonable-royalty standard often serves as the measure of damages in a claim of patent, copyright, or trademark infringement, or for misappropriation of trade secrets.

For instance, if a company uses a patented technology without permission, the patent holder can sue for damages. The court will then determine what a reasonable royalty would have been for the use of that technology and award damages accordingly.

In summary, established royalty is a set payment for the use of intellectual property, while reasonable royalty is a payment that would be considered fair and reasonable in the absence of an established royalty.

establish | establishment

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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