Advance against royalties

In the field of intellectual property licensing, an advance against royalties is a payment made by the licensee to the licensor at the start of the period of licensing (usually immediately upon contract, or on delivery of the property being licensed) which is to be offset against future royalty payments. ^[1]

4 relations: Advance payment, Intellectual property, License, Royalty payment.

Advance payment

An advance payment, or simply an advance, is the part of a contractually due sum that is paid or received in advance for goods or services, while the balance included in the invoice will only follow the delivery.

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Intellectual property

Intellectual property (IP) is a category of property that includes intangible creations of the human intellect, and primarily encompasses copyrights, patents, and trademarks.

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License

A license (American English) or licence (British English) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit).

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Royalty payment

A royalty is a payment made by one party, the licensee or franchisee to another that owns a particular asset, the licensor or franchisor for the right to ongoing use of that asset.

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Advance (publishing), Book advance.

References

[1] https://en.wikipedia.org/wiki/Advance_against_royalties

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