Hi All,
I would like to know the difference between Royalty and Lease.
This is an general question.
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Difference between royalty and lease
Replies (2)
A payment made for the use of property, especially a patent, copyrighted work, franchise, or natural resource. The amount is usually a percentage of revenues obtained through its use.
lease
a. A contract granting use or occupation of property during a specified period in exchange for a specified rent.
b. The term or duration of such a contract.
Property used or occupied under the terms of such a contract.
v.tr. leased, leas·ing, leas·es
lease is paid as a compsenation towards usage of the asset in some specific period towards tangible assest
Royalty paid on the basis of use of intellectual property
To grant use or occupation of under the terms of a contract.
To get or hold by such a contract.
Thanks kishor, got a clear picture.
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