A payment made for the use of property, especially a patent, copyrighted work, franchise, or natural resource. The amount is usually a percentage of revenues obtained through its use.

Use royalty in a sentence

Everytime one of his songs is played or used in a movie, he receives a royalty. Since it's such a famous song, money keeps flowing in.

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You need to try and make sure that you give out any royalty that you have promised to keep your good reputation.

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overriding royalty 1099-MISC Form