roy·al·ty 
(roiəl-tē)
(roiəl-tē)n. pl. roy·al·ties
1.
a. A person of royal rank or lineage.
b. Monarchs and their families considered as a group.
2. The lineage or rank of a monarch.
3. The power, status, or authority of a monarch.
4. Royal quality or bearing.
5. A kingdom or possession ruled by a monarch.
6. A right or prerogative of the crown, as that of receiving a percentage of the proceeds from mines in the royal domain.
7.
a. The granting of a right by a monarch to a corporation or an individual to exploit specified natural resources.
b. The payment for such a right.
8.
a. A share paid to a writer or composer out of the proceeds resulting from the sale or performance of his or her work.
b. A share in the proceeds paid to an inventor or a proprietor for the right to use his or her invention or services.
9. A share of the profit or product reserved by the grantor, especially of an oil or mining lease. Also called override.