Payment for the use of assets, both intangible, such as patents, and tangible, notably subsoil assets. Royalties paid for the use of subsoil assets are also called rents even though they are not rents by the definition given above.
ROYALTY
Payment for the use of assets, both intangible, such as patents, and tangible, notably subsoil assets. Royalties paid for the use of subsoil assets are also called rents even though they are not rents by the definition given above.
