________ 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 a fee paid by a licensee to a licensor for the use of intellectual property such as patents, trademarks, or copyrights. The royalty is often calculated as a percentage of the gross sales generated from the licensed asset.

________ Is a Fee Paid Periodically to Compensate a Licensor