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LSDefine

Simple English definitions for legal terms

established royalty

Read a random definition: direct placement

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.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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