Royalty Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Royalty, written in plain English, along with examples of how it is used.

What is Royalty?

(n) Royalty is the consideration paid to the creator of a property, idea, inventions etc, as a percentage of the revenue collected from sale of the products created, manufactured or developed using the idea, inventions or creations made by the creators.