The "price" for using intangible property is called:

Question

Quizplus · Accepted Answer

The "price" for using intangible property is called a royalty. This is the fee paid by someone who wants to use someone else's intellectual or intangible property, such as a patent, trademark, or copyrighted work. Interest refers to the amount of money paid for borrowing money or using credit. Rent is the price paid for using tangible property, such as a building or equipment. A service charge is a fee paid for a specific service, such as a bank fee or a restaurant gratuity.

The "Price" for Using Intangible Property Is Called