royalty

  

Definition

Compensation, consideration, or fee paid for a license or privilege to use an intellectual property (brand, copyright, patent, process) or a natural resource (fishing, hunting, mining), computed usually as a percentage of revenue or profit realized from the use. See also technology licensing.

Use royalty in a sentence

  • The song was so successful twenty years after the recording of their first hit, the band still received a royalty.

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  • I was glad that we had a royalty system working for us and would be making a lot of money over time.

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  • You may end up getting a royalty if you come up with something really catchy that stays as part of the culture for a long time.

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