Difference between revisions of "Royalty"
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Chippeterson (Talk | contribs) (Created page with 'In economics, '''Royalty''' is a share of earnings given as a payment. Category:Economics') |
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| − | + | 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. | |
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| + | Royalties are common in two areas: | ||
| + | *The entertainment industry (whereby the writers and singers of a song, or actors and writers of a film, receive royalties each time the song or film is played) | ||
| + | *The mineral industry (for example, a landowner whose 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]] | ||
Latest revision as of 20:51, July 6, 2025
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 and singers of a song, or actors and writers of a film, receive royalties each time the song or film is played)
- The mineral industry (for example, a landowner whose 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)
