The concept of royalty it has different uses. The most common refers to money what the owner of a right gets when someone makes use of it. This means that when one person exploits another’s rights, they must pay them royalties.
Some products and techniques are protected from the imposition of royalty payments for those who wish to follow the standards that characterize them. Such is the case with connections and USB ports: when a manufacturer wants to include this technology in its products, it does not have to pay its creators.
The Rights from Author they constitute the most frequent case of royalty generation. The composer who has a certain song of his authorship registered collects royalties every time someone performs in public or records his song. For example: Mick jagger Y Keith richards get royalties from all the versions other artists record from “(I can’t get no) Satisfaction”.
Although it is never convenient to talk about the lives of celebrities, since for most people there is not even the remotest possibility of meeting them face to face and checking everything that is said about them (neither well-intentioned things nor destructive rumors) one of the stories The most talked about in relation to royalties is that of Michael Jackson and the rights to almost every song by The Beatles.
Broadly speaking, it is said that Paul McCartney desperately sought to seize these rights after the horrible death of John Lennon, but that he did not achieve his goal since the necessary amount considerably exceeded his capital available. A couple of years later, he met Michael Jackson and explained the benefits of buying the rights to other people’s songs and shared with him his concern about not being able to raise the money necessary to acquire those of his own band, after which Jackson was enlightened and put into practice what he learned, until he got the Beatles songs.
The evidence that exists today of such an event that divided the fans of both artists at the time and continues to provoke more than one argument against Jackson and in favor of McCartney is the endless amount of stories by the latter against the cameras, in which he repeats over and over that Michael warned him twice before doing so that he was willing to buy his songs, to which Paul reacted as if it were a practical joke; there was no third time, but a phone call that confirmed the transaction.
The Condition it also charges royalties when it allows exploitation of certain natural resources. In this case, it is also often referred to as royalties: “The Government has obtained ten million dollars in the last year in royalties for mining activity”, “The economy of this country is based on the royalties paid by foreign firms”.
Royalties can be percentages linked to sales and production or fixed amounts. The determination depends on the laws in force in each country.
The notion of royalties also appears in the so-called Old Regime (the feudal system that existed before the French Revolution). In this case, the term mentions those rights that derive from the sovereignty exercised by the monarchs.
Royalties are prerogatives that are exclusive to the monarch and are an inherent part of his reign. The power to issue currency, decree a war and administering justice was among the royalties of the kings of the Old Regime.
In this context, royalties are also known as swears regalia (with its singular jus give away) Y iura regalia (ius give away, singular), and include certain elements symbolic with an especially sacred character (such as the crown, the scepter and the sword, among others), in addition to the aforementioned political, economic and social attributions.