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Line 1: − In [[economics]], '''Royalty''' is a share of earnings given as a payment.+ + + + + + +
redo page as part of consolidation
A '''royalty''' is a form of [[income]] received for giving the [[rights]] to another person or entity to use a product or right that the first person owns.
Royalties are common in two areas:
*The entertainment industry (whereby the writers of a song or film receive royalties each time a song or film is played)
*The mineral industry (for example, a landowner who's property has minerals underneath it -- most commonly crude oil and natural gas -- will receive a portion of the sale of any oil and gas produced)
[[Category:Economics]]
[[Category:Economics]]
[[Category:Real Estate]]
[[Category:Entertainment]]