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LSDefine

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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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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