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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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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