- Royalty is defined as a person or a group of people related to a monarch, or a share of the proceeds paid to the owner for use of their work or their ownership rights.
- An example of royalty is a king.
- An example of royalty is a payment to a music composer.
royalty definition by Webster's New World
- the rank, status, or power of a king or queen; royal position, dignity, etc.; sovereignty
- a royal person or, collectively, royal persons
- Archaic a royal domain or realm; kingdom
- royal quality or character; nobility, magnanimity, etc.
- Archaic a right, privilege, or prerogative of a monarch
- a royal right, as over some natural resource, granted by a monarch to a person, corporation, etc.
- payment for such a right
- a share of the proceeds or product paid to the owner of a right, as a patent, for permission to use it or operate under it
- such a share paid to one from whom lands rich in oil or minerals are leased
- a share of proceeds, usually a specified percentage, paid for the work of an author, composer, etc. by the publisher
Origin: Middle English roialte ; from Old French ; from Midieval Latin regalitas ; from Classical Latin regalis, regal
royalty definition by American Heritage Dictionary
noun pl. roy·al·ties
- a. A person of royal rank or lineage.b. Monarchs and their families considered as a group.
- The lineage or rank of a monarch.
- The power, status, or authority of a monarch.
- Royal quality or bearing.
- A kingdom or possession ruled by a monarch.
- A right or prerogative of the crown, as that of receiving a percentage of the proceeds from mines in the royal domain.
- a. The granting of a right by a monarch to a corporation or an individual to exploit specified natural resources.b. The payment for such a right.
- a. A share paid to a writer or composer out of the proceeds resulting from the sale or performance of his or her work.b. A share in the proceeds paid to an inventor or a proprietor for the right to use his or her invention or services.
- A share of the profit or product reserved by the grantor, especially of an oil or mining lease. Also called override.
royalty - Business Definition
royalty - Cultural Definition
A payment made for some right or privilege, as when a publisher pays a royalty to an author for the author's granting the publisher the right to sell the author's book.
royalty - Investment & Finance Definition
A payment made for the right to use an asset, invention, or creation calcu-lated as a percentage of the sale price. For example, the holder of a valuable natural resource may receive a royalty from a company that extracts the resource; the amount of the royalty payment depends on the amount of the resource that the company is able to extract. An author may receive a royalty each time one of his or her books sells.
royalty - Legal Definition
- A payment made to the creator of an intellectual property (author, inventor, and so on) for each copy of the property that is sold.
- A share of the profit derived from real property that is reserved for the owner in exchange for granting a lessee, who is going to mine or drill the mineral rights on that land.