Main Entry: roy·al·ty

Pronunciation: \ˈrȯi(-ə)l-tē\

Function: noun

Inflected Form(s): plural roy·al·ties

Etymology: Middle English roialte, from Anglo-French realté, roialté, from real

Date: 14th century

1 a : royal status or power : sovereignty b : a right or perquisite of a sovereign (as a percentage paid to the crown of gold or silver taken from mines)
2 : regal character or bearing : nobility
3 a : persons of royal lineage b : a person of royal rank <how to address royalties — George Santayana> c : an elite class
4 : a right of jurisdiction granted to an individual or corporation by a sovereign
5 a : a share of the product or profit reserved by the grantor especially of an oil or mining lease b : a payment to an author or composer for each copy of a work sold or to an inventor for each item sold under a patent