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Simple English definitions for legal terms

overriding royalty

Read a random definition: buy-sell agreement

A quick definition of overriding royalty:

An overriding royalty is a payment made to someone who has the right to receive a portion of the profits from the sale of a product or service. This payment is usually made to an author or inventor for each copy of their work or article sold under a copyright or patent. If there is no established royalty, a court will determine a remedy for infringement based on what a reasonable royalty would have been. A reasonable royalty is a payment 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 often serves as the measure of damages in a claim of patent, copyright, or trademark infringement, or for misappropriation of trade secrets.

A more thorough explanation:

An overriding royalty is a type of royalty payment made to an author or inventor for each copy of their work or article sold under a copyright or patent. It is similar to a regular royalty, but it is paid on top of any other royalties that may be owed.

For example, if an author has a contract with a publisher that includes a 10% royalty on book sales, and then later signs a separate agreement for an overriding royalty of 2% with a different company, they would receive a total of 12% on each book sold.

Overriding royalties are often used in the oil and gas industry, where a landowner may receive a percentage of the profits from any oil or gas extracted from their property, in addition to any lease payments or other royalties they may receive.

In summary, an overriding royalty is an extra payment made to an author or inventor on top of any other royalties they may receive for their work or invention.

override | overseas bill of lading

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JumpySubsequentDolphin
23:12
@renard99: yes I’m loving the Levantine love!! and @eggan v cool Amman is one of my fave places
shaquilleoatmeal
23:16
Send me a link - I get a couple mixed results when I search
shaquilleoatmeal
23:17
Nvm I found it
shaquilleoatmeal
23:20
Sounds like someone’s playing the qanun?
JumpySubsequentDolphin
23:23
perhaps
JumpySubsequentDolphin
23:23
the lyrics are chefs kiss
shaquilleoatmeal
23:29
Tell me what it translates to tomorrow, I gotta sleep, Laylah sa'eedah 😴
JumpySubsequentDolphin
23:31
tusbihun ‘ala khair
HELLO ALL
whos awake \
JumpySubsequentDolphin
23:42
hi SPLITTY!!!
HIII DOLPHYY
stanford finally sent me a status checker tomight
do yall know if "Your file has been submitted for review" just means under review
Dkk
0:08
@SplitterusClitterus: really depends on the school. Could mean they have just received it. Could be it is under review. Could mean they already have a decision for you. For Stanford, idk.
Mmm ok thank you
JumpySubsequentDolphin
1:19
my friend JUST sent me that omg
JumpySubsequentDolphin
1:19
also @renard that shows your IG handle
JumpySubsequentDolphin
1:20
I assume you don’t want to doxx yourself 😧
JumpySubsequentDolphin
1:20
if we send enough messages it will stop showing the message tho!!!!!!!!
JumpySubsequentDolphin
1:21
@renard99: come back and spam messages I only have so many left 😔
JumpySubsequentDolphin
1:23
. . .
Dkk
1:49
@renard99: you shared a post a good friend of mine had liked. Lmfao but respect +1
Dkk
1:49
I laughed at it too +1
1:50
Damn lol
1:50
Follow me brah
JumpySubsequentDolphin
2:01
I followed you
JumpySubsequentDolphin
2:01
don’t dox me ☹️
2:06
Nw I won’t dox you 😎
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