Difference between revisions of "Royalties"
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| − | '''Royalties''' are 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 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, the owner of a [[mineral estate]] will receive a portion of the sale of any oil and gas produced from a piece of land) | ||
[[Category:Economics]] | [[Category:Economics]] | ||
| + | [[Category:Real Estate]] | ||
| + | [[Category:Entertainment]] | ||
Revision as of 18:43, December 23, 2019
Royalties are 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, the owner of a mineral estate will receive a portion of the sale of any oil and gas produced from a piece of land)