Royalty
Black's Law Dictionary · Henry Campbell Black, M.A. · 1910
Black's Law Dictionary
A payment reserved by the grantor of a patent, lease of a mine or simll-ar right, and payable proportionately to the use made of the right by the grantee.
See Raynolds v. Hanna (C. C.) 55 Fed. 800; Hubenthal v. Kennedy, 76 Iowa, 707, 39 N. W. 694; Western Union Tel. Co. v. American Bell Tel. Co.., 125 Fed. 342, 60 C. C. A. 220.
Royalty also sometimes means a payment which is made to an author or composer by an assignee or licensee in respect of each copy of his work which Is sold, or to an inventor in respect of each article sold under the patent Sweet.