A ________ is a fee paid periodically to compensate a licensor for the temporary use of its intellectual property, often based on a percentage of gross sales generated from the use of the licensed asset.
A) duty
B) residual
C) royalty
D) tariff

Question

Quizplus · Accepted Answer

A royalty is the correct term for a fee paid periodically to a licensor for the use of intellectual property, typically calculated as a percentage of sales generated from the licensed asset.

A ________ Is a Fee Paid Periodically to Compensate a Licensor