The concept of royalty It has different uses. The most common refers to money what gets the right owner when someone makes use of it . This means that when a person exploits some rights of another, they must pay 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 of connections and USB ports: when a manufacturer wishes to include this technology in its products, it must not pay its creators.
The rights from Author They are the most frequent case of royalty generation. The composer who has registered a certain song of his authorship charges royalties every time someone performs in public or records his song. For example: Mick jagger and Keith Richards get royalties with all the versions that other artists record of “(I can't get no) Satisfaction” .
Although it is never advisable to talk about the lives of celebrities, since for most people there is not even the slightest possibility of knowing them face to face and checking everything that is said about them (neither well-intentioned things nor destructive rumors) one of the stories most commented in relation to royalties is that of Michael Jackson and the rights to almost all songs of 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 amount necessary exceeded his capital available. A couple of years later, he met Michael Jackson and explained the benefits of buying the rights of other people's songs and shared with him his concern about not being able to raise the necessary money to acquire those of his own band, after which Jackson was enlightened and put into practice what was learned, until it was done with the themes of The Beatles.
The current evidence of such an event that divided the fans of both artists at the time and continues to raise 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 again and again 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 heavy joke; there was no third time, but a phone call that confirmed the transaction .
He State also charges royalties when it allows the exploitation of certain natural resources . In this case, we also usually talk about 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 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 administer justice was among the royalty of the kings of Old Regime .
In this context, royalties are also known as swear regalia (with its singular jus give away) and iura regalia (ius give away, singular), and include certain elements symbolic with a particularly sacred character (such as the crown, the scepter and the sword, among others), in addition to the aforementioned attributions of a political, economic and social nature.