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Simple English definitions for legal terms

Royalty

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A quick definition of Royalty:

Term: Royalty

Definition: Royalty is a payment made to someone who owns something special, like a book or a song, when other people use or buy it. For example, if you write a book and a company sells it, you might get some money from each book sold. This is called a royalty. The word "royalty" comes from a long time ago when people had to pay the king or queen for using their land or resources. Royalties can also be something that you can give to someone as a gift or inherit from someone else.

A more thorough explanation:

Definition: Royalty is a payment made to the owner of something valuable, like a book or a piece of land, for the right to use or profit from it. This payment is usually a percentage of the sales or a set amount per sale.

For example, if you write a book and a company wants to sell it, they will pay you a royalty for each book sold. This could be 20% of the sales or $5 per book sold. Another example is when a company wants to extract natural resources from a piece of land, they will pay the owner a royalty for the right to do so.

The term "royalty" comes from the payments that were owed to the English crown for extracting resources from its property. Royalties can also be a type of personal property that can be inherited or gifted.

Overall, royalties are a way for owners of valuable things to be compensated for the use or profit of their property.

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Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
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