Other Royalty Arrangements
The term "royalty" also covers areas outside of IP and technology licensing, such as oil, gas, and mineral royalties paid to the owner of a property by a resources development company in exchange for the right to exploit the resource. In a business project the promoter, financier, LHS enabled the transaction but are no longer actively interested may have a royalty right to a portion of the income, or profits, of the business. This sort of royalty is often expressed as a contract right to receive money based on a royalty formula, rather than an actual ownership interest in the business. In some businesses this sort of royalty is sometimes called an override.
Read more about this topic: Royalties
Famous quotes containing the words royalty and/or arrangements:
“Powerful, yes, that is the word that I constantly rolled on my tongue; I dreamed of absolute power, the kind that forces to kneel, that forces the enemy to capitulate, finally converting him, and the more the enemy is blind, cruel, sure of himself, buried in his conviction, the more his admission proclaims the royalty of he who has brought on his defeat.”
—Albert Camus (1913–1960)
“Autonomy means women defining themselves and the values by which they will live, and beginning to think of institutional arrangements which will order their environment in line with their needs.... Autonomy means moving out from a world in which one is born to marginality, to a past without meaning, and a future determined by others—into a world in which one acts and chooses, aware of a meaningful past and free to shape one’s future.”
—Gerda Lerner (b. 1920)