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Simple English definitions for legal terms

shut-in royalty

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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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General

General chat about the legal profession.
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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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