Royalties
<p >A <b>royalty</b> is a payment made by one party, the licensee or franchisee to another that owns a particular asset, the licensor or franchisor for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.<sup id="cite_ref-1" class="reference" ><a href="https://en.wikipedia.org/wiki/Royalty_payment#cite_note-1" >[1]</a></sup><sup id="cite_ref-2" class="reference" ><a href="https://en.wikipedia.org/wiki/Royalty_payment#cite_note-2" >[2]</a></sup><sup id="cite_ref-3" class="reference" ><a href="https://en.wikipedia.org/wiki/Royalty_payment#cite_note-3" >[3]</a></sup><sup id="cite_ref-autogenerated3_4-0" class="reference" ><a href="https://en.wikipedia.org/wiki/Royalty_payment#cite_note-autogenerated3-4" >[4]</a></sup><sup id="cite_ref-autogenerated1_5-0" class="reference" ><a href="https://en.wikipedia.org/wiki/Royalty_payment#cite_note-autogenerated1-5" >[5]</a></sup><sup id="cite_ref-6" class="reference" ><a href="https://en.wikipedia.org/wiki/Royalty_payment#cite_note-6" >[6]</a></sup><sup id="cite_ref-7" class="reference" ><a href="https://en.wikipedia.org/wiki/Royalty_payment#cite_note-7" >[7]</a></sup> A <b>royalty interest</b> is the right to collect a stream of future royalty payments.<sup id="cite_ref-8" class="reference" ><a href="https://en.wikipedia.org/wiki/Royalty_payment#cite_note-8" >[8]</a></sup>
A <a href="https://en.wikipedia.org/wiki/License_agreement" class="mw-redirect" title="License agreement" >license agreement</a> defines the terms under which a resource or property are <a href="https://en.wikipedia.org/wiki/License" title="License" >licensed</a> by one party to another, either without restriction or subject to a limitation on term, business or geographic territory, type of product, etc. License agreements can be regulated, particularly where a government is the resource owner, or they can be private contracts that follow a general structure. However, certain types of <a href="https://en.wikipedia.org/wiki/Franchising" title="Franchising" >franchise</a> agreements have comparable provisions.<sup class="noprint Inline-Template" >[<i><a href="https://en.wikipedia.org/wiki/Wikipedia:Please_clarify" title="Wikipedia:Please clarify" >clarification needed</a></i>]</sup></p>