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LSDefine

Simple English definitions for legal terms

shut-in royalty

Read a random definition: inter virum et uxorem

A quick definition of shut-in royalty:

A shut-in royalty is a type of payment made to an author or inventor when their work or invention is not being used or sold. It's like getting paid for something that's just sitting on a shelf. This type of royalty is usually agreed upon beforehand and is paid to ensure that the author or inventor is compensated for their work, even if it's not currently being used.

A more thorough explanation:

A shut-in royalty is a type of royalty payment made to an author or inventor for each copy of their work or article that is not sold or used. This means that even if the work or article is not being actively distributed or used, the author or inventor still receives a payment for the potential use or sale of their intellectual property.

For example, if a book author receives a shut-in royalty of $1 per book, and 1000 copies of their book are printed but only 500 are sold, the author would still receive $500 for the remaining 500 unsold copies.

Shut-in royalties are often included in contracts for intellectual property rights, such as patents or copyrights, to ensure that the creator of the work or invention is compensated for its potential value even if it is not actively being used or sold.

shutdown | shut-in royalty clause

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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
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
Yeah, it’s tough. I’m distracting myself by playing good video games after work :)
im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
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