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Simple English definitions for legal terms
leaseholder royalty
Read a random definition: woodward
A quick definition of leaseholder royalty:
A leaseholder royalty is a payment made by someone who is renting land to the owner of the land. This payment is similar to a landowner's royalty, which is paid by someone who is using the land for other purposes, such as mining or drilling. The leaseholder royalty is usually set at an agreed-upon price, and it is meant to compensate the landowner for the use of their property. This type of royalty is important because it helps ensure that landowners are fairly compensated for the use of their land, and it helps encourage responsible use of natural resources.
A more thorough explanation:
Leaseholder royalty is a payment made by a tenant to the owner of a property for the right to use that property. This is similar to landowner's royalty, which is paid by someone who wants to extract resources from the land.
For example, if a business wants to rent a storefront, they would pay a leaseholder royalty to the owner of the building. This payment gives them the right to use the space for their business.
Leaseholder royalty is different from established royalty, which is a set price that has been agreed upon. In cases where there is no established royalty, a court will determine what a reasonable royalty would be.
Reasonable royalty is the amount that a licensee would be willing to pay the holder of the intellectual property rights while still making a reasonable profit from its use. This standard is often used to determine damages in cases of patent, copyright, or trademark infringement, or for misappropriation of trade secrets.
For example, if a company is found to have infringed on a patent, they may be required to pay a reasonable royalty to the patent holder as compensation for their use of the patented technology.
Overall, leaseholder royalty is a payment made by a tenant to the owner of a property for the right to use that property, while reasonable royalty is the amount that a licensee would be willing to pay the holder of intellectual property rights for the use of that property.