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80-522: Streams and royalties can be acquired outright from either a resource company or a private party. In the case of new streams or royalties that are sold to raise financing, the capital provided by Royal Gold is typically directed by our partner companies towards three broad uses: - Investing directly in mining assets (for example, for mine development and construction, mine expansion, or funding exploration work); - Providing liquidity to strengthen balance sheets; - Funding merger and acquisition activity. As

160-572: A 34 year life. In August 2018, Franco-Nevada and Continental Resources entered into a strategic relationship to jointly acquire royalty rights in the SCOOP and STACK oil and gas plays of Oklahoma . Franco-Nevada committed $ 520 million to the venture to be invested through 2021. The venture was established to acquire royalty rights at the grass-roots level in areas primarily within acreage operated by Continental. In April 2021, Franco-Nevada acquired 57 million Royalty Debentures for $ 538 million from

240-407: A broad range of royalties for trade mark use from a low of 0.1% to a high of 15%. While a payment to employ a trade mark licence is a royalty, it is accompanied by a "guided usage manual", the use of which may be audited from time to time. However, this becomes a supervisory task when the mark is used in a franchise agreement for the sale of goods or services carrying the reputation of the mark. For

320-586: A case by case right (under clause 22/23 of the Act) to refuse consent to the usage of the right by the appointed collection society and/or make their own collection arrangements. Details of the Australian scheme can be gotten from the website of the sole appointed Australian agency; The "Copyright Agency Limited". The UK scheme is in the context of common-law countries an oddity; No other common-law country has mandated an individual economic right where actual usage of

400-463: A civil remedy (monetary compensation) for patent infringement, in the following order of importance: At least one study analyzing a sample of 35 cases in which a court awarded an ongoing royalty has found that ongoing royalty awards "exceed by a statistically significant amount the jury-determined reasonable royalty damages". In 2007, patent rates within the United States were: In 2002,

480-535: A deal richer than Anglo's offer, and ultimately valuing Franco-Nevada at $ 2.5 billion. In 2007, Newmont made the decision to divest its portfolio of royalty assets. Pierre Lassonde, David Harquail and a small team led by management of the original Franco-Nevada, launched an initial public offering on the Toronto Stock Exchange raising CA$ 1.1 billion which helped fund the US$ 1.2 billion acquisition of

560-454: A follow-on offering. The company made its first royalty investment in 1986, spending half the corporate treasury ($ 2 million) to acquire 4% of revenues from a mine in Nevada owned by Western States Minerals, later called Goldstrike mine . Franco-Nevada assumed that known reserves would allow the royalty to pay for itself regardless of additional exploration results. Barrick Gold Corp. acquired

640-446: A franchise, it is said, a fee is paid, even though it comprises a royalty element. To be a franchise, the agreement must be a composite of the items: One of the above three items must not apply for the franchise agreement to be considered a trade mark agreement (and its laws and conventions). In a franchise, for which there is no convention, laws apply concerning training, brand support, operating systems/support and technical support in

720-589: A further US$ 327 million to expand Cobre Panama’s throughput from 85 Mtpa to 100 Mtpa starting in 2023. In January 2022, negotiations between the Government of Panama and First Quantum Minerals started to define a new contract concerning the Cobre Panama mine. First Quantums subsidiary Minera Panamá S. A. made proposals favorable to the Government of Panamá including yearly payments of US$ 375 million in tax and royalty revenue. These payments were offered under

800-412: A general structure. However, certain types of franchise agreements have comparable provisions. A landowner with petroleum or mineral rights to their property may license those rights to another party. In exchange for allowing the other party to extract the resources, the landowner receives either a resource rent , or a "royalty payment" based on the value of the resources sold. When a government owns

880-594: A gold and silver stream on the Candelaria mine. At the time, the mine had reserves supporting a 14 year mine life. Lundin Mining had great exploration success expanding the underground extensions of the orebody and in its reserve update in September 2020 stated reserves supporting a 25 year mine life. In October 2015, Franco-Nevada agreed to pay Teck Resources US$ 610 million for a stream on Teck’s 22.5% share of

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960-693: A market value of $ 3.5 billion at the time. In April 2001, Franco-Nevada sold the Nevada Midas mine (previously named the Ken Snyder mine ), its only wholly owned mine, to Normandy Mining in exchange for 20% of Normandy and a five-percent royalty on the mine. That September, Anglo Gold made a bid for Normandy at a valuation 60% greater than Franco-Nevada's acquisition cost. Seeing the potential to take advantage of Newmont's rivalry with Anglo, Schulich and Lassonde approached Newmont Mining Corporation to discuss purchasing Franco-Nevada and Normandy, striking

1040-429: A mere component or improvement on a technology. In the United States, "reasonable" royalties may be imposed, both after-the-fact and prospectively, by a court as a remedy for patent infringement. In patent infringement lawsuits, where the court determines an injunction to be inappropriate in light of the case's circumstances, the court may award "ongoing" royalties, or royalties based on the infringer's prospective use of

1120-425: A number of years for a total investment of C$ 93 million. The mines associated with both investments produce high grade Iron ore products that allow steelmakers to reduce CO 2 and other emissions from their operations. In May 2020, after more than twelve years in the role, Pierre Lassonde stepped down as Chair of Franco-Nevada, taking the role of Chair Emeritus. David Harquail, who had been President and CEO since

1200-433: A percentage of sales may not be appropriate, because of the prohibition of usury (see riba ), and a flat fee may be preferred instead. Trade marks are words, logos, slogans, sounds, or other distinctive expressions that distinguish the source, origin, or sponsorship of a good or service (in which they are generally known as service marks ). Trade marks offer the public a means of identifying and assuring themselves of

1280-614: A portfolio of royalties from Newmont. The listing was one of the largest in Canadian history, second only to the 2000 Sun Life IPO, and the largest mining IPO in North American History. In August 2012, Franco-Nevada partnered with Inmet Mining to invest $ 1 billion in various metal streams from the Cobre Panama Copper Project . In 2013, First Quantum Minerals took over Inmet Mining. At

1360-524: A result, rather than paying royalties based on a percentage of a book's cover price, publishers preferred to pay royalties based on their net receipts. According to The Writers' and Artists' Yearbook of 1984, under the new arrangement, "appropriate [upward] adjustments are of course made to the royalty figure and the arrangement is of no disadvantage to the author." Despite this assurance, in 1991, Frederick Nolan , author and former publishing executive, explained that "net receipts" royalties are often more in

1440-409: A single one. Because trade mark law has as a public interest goal of the protection of a consumer, in terms of getting what they are paying for, trade mark licences are only effective if the company owning the trade mark also obtains some assurance in return that the goods will meet its quality standards. When the rights of trade mark are licensed along with a know-how, supplies, pooled advertising, etc.,

1520-405: A specific owner holds the mineral interest, the royalty rate defined in that owner's mineral lease, and any tract participation factors applied to the specific tracts owned. As a standard example, for every $ 100 bbl of oil sold on a U.S. federal well with a 25% royalty, the U.S. government receives $ 25. The U.S. government does not pay and will only collect revenues. All risk and liability lie upon

1600-538: A streaming and royalty company, Royal Gold is less exposed to operational and capital cost risks than mine operators. Royal Gold's business has over a short period of time become more internationalized and diversified (in 2010, 60% of revenue came from abroad compared to 44% the year before). In 2010, 40% of revenue came from the USA compared to 79% in 2008; Canada down to 4% from 27% in 2008, however, most assets in Canada are in

1680-470: A strong linkage to individuals – composers (score), songwriters (lyrics) and writers of musical plays – in that they can own the exclusive copyright to created music and can license it for performance independent of corporates. Recording companies and the performing artists that create a "sound recording" of the music enjoy a separate set of copyrights and royalties from the sale of recordings and from their digital transmission (depending on national laws). With

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1760-407: A three-way combination of Newmont, Normandy and Old Franco-Nevada. Newmont maintained Franco-Nevada as a royalty holding division, transferring numerous other royalties to it over the five-year period following the acquisition, building its portfolio of royalties to include investments in almost 300 royalties (two-thirds in base and precious metal miners, and one-third in oil and natural gas ) at

1840-431: A total of $ 1.356 billion funding commitment of the more than $ 6 billion capital cost for the project. In June 2019, Cobre Panama started shipping ore concentrate. An announcement of a Panamanian Supreme Court ruling in connection to the constitutionality of Law 9 of 1997 is raising questions concerning Minera Panama S. A.. , the holder of the Cobre Panama concession. In April 2019, First Quantum indicated its plan to invest

1920-486: A variety of different ways, and are expressed as a percentage of sales volume or income, or a fixed fee per unit sold. When negotiating rates, one way companies value a trade mark is to assess the additional profit they will make from increased sales and higher prices (sometimes known as the "relief from royalty") method. Trade mark rights and royalties are often tied up in a variety of other arrangements. Trade marks are often applied to an entire brand of products and not just

2000-451: A written format ("Disclosure"). Copyright law gives the owner the right to prevent others from copying, creating derivative works , or using their works. Copyrights, like patent rights, can be divided in many different ways, by the right implicated, by specific geographic or market territories, or by more specific criteria. Each may be the subject of a separate license and royalty arrangements. Copyright royalties are often very specific to

2080-464: Is based on computer technologies. (200 pp Book) Hardback royalties on the published price of trade books usually range from 10% to 12.5%, with 15% for more important authors. On paperback it is usually 7.5% to 10%, going up to 12.5% only in exceptional cases. All the royalties displayed below are on the "cover price". Paying 15% to the author can mean that the other 85% of the cost pays for editing and proof-reading , printing and binding, overheads, and

2160-467: Is common in the UK for example, for authors to receive a 10% royalty on book sales. Some photographers and musicians may choose to publish their works for a one-time payment. This is known as a royalty-free license. All book-publishing royalties are paid by the publisher, who determines an author's royalty rate, except in rare cases in which the author can demand high advances and royalties. For most cases,

2240-485: Is essentially selling books to itself, at discounted rates, upon which it then calculates the author's royalty, and then Harper Collins shares in the extra profit when the book is resold to the consumer by the foreign affiliates, without paying the author any further royalty.") This forced a "class action" readjustment for thousands of authors contracted by HarperCollins between November 1993 and June 1999. Unlike other forms of intellectual property , music royalties have

2320-423: Is made of the "royalties"; Half of the money collected is redistributed to fund public programs. The New Zealand and Canadian governments have not proceeded with any sort of artist resale scheme. The Australian scheme does not apply to the first resale of artworks purchased prior to the schemes enactment( June 2010) and individual usage of the right (by Australian artists) is not compulsory. In Australia artists have

2400-435: Is not yet a robust body of law regarding wind royalties, the legal implications of severing wind rights are still unknown. Several states, including Colorado, Kansas, Oklahoma, North Dakota, South Dakota, Nebraska, Montana, and Wyoming, have enacted anti-severance statutes, preventing the wind estate from being severed from the surface. Regardless, the ownership of wind royalties and compensation payments can be transferred from

2480-551: Is one reason why publishers prefer "net receipts" contracts....Among the many other advantages (to the publisher) of such contracts is the fact that they make possible what is called a 'sheet deal'. In this, the (multinational) publisher of that same 10,000 copy print run, can substantially reduce his printing cost by 'running on' a further 10,000 copies (that is to say, printing but not binding them), and then further profit by selling these 'sheets' at cost-price or even lower if he so chooses to subsidiaries or overseas branches, then paying

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2560-608: Is restricted to Europe, Australia and the American state of California. For example, in May 2011 the European commissions ec.europa webpage on Resale royalty stated that, under the heading 'Indicative list of third countries (Article 7.2)'  : 'A letter was sent to Member States on 1 March 2006 requesting that they provide a list of third countries which meet these requirements and that they also provide evidence of application. To date

2640-434: Is the right to collect a stream of future royalty payments. A license agreement defines the terms under which a resource or property are licensed by one party to another, either without restriction or subject to a limitation on term, business or geographic territory, type of product, etc. License agreements can be regulated, particularly where a government is the resource owner, or they can be private contracts that follow

2720-563: The Antamina mine (Peru). Franco-Nevada has also continued to add to its oil and gas royalty interests, particularly in the major US oil and gas fracking basins. Franco-Nevada initially began trading as a public gold exploration company in 1983 and was led by executives Seymour Schulich and Pierre Lassonde . At the time, oil and gas royalty ownership—but not gold royalty ownership—was an established business strategy. In 1985 Franco-Nevada raised $ 930,000 to purchase gold royalties in

2800-658: The Brazilian Development Bank and the Federal government of Brazil , representing 14.7% of the total issued Royalty Debentures. The Royalty Debentures provide holders with life of mine net sales royalties on Vale's Northern Iron Ore system, Southeastern Iron Ore system and on certain copper and gold operations. Franco-Nevada also accumulated a 9.9% equity investment in Labrador Iron Ore Royalty Corporation, acquired over

2880-564: The Bureau of Ocean Energy Management, Regulation and Enforcement , formerly the Minerals Management Service. An example from Canada's northern territories is the federal Frontier Lands Petroleum Royalty Regulations. The royalty rate starts at 1% of gross revenues of the first 18 months of commercial production and increases by 1% every 18 months to a maximum of 5% until initial costs have been recovered, at which point

2960-486: The $ 84 million project was completed and first gold was produced in December 1998. Seymour Schulich and Pierre Lassonde created a sister company to Franco-Nevada, named Euro-Nevada . Euro-Nevada had a gold-only focus while Franco-Nevada was more diversified. In June 1999, they merged Franco-Nevada and Euro-Nevada to increase liquidity and financial capacity and improve clarity for shareholders. The combined companies had

3040-483: The 2007 IPO, was appointed Chair and Paul Brink as President and CEO. Royalty payment A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation. A royalty interest

3120-853: The Andacollo mine in Chile; - A gold stream for 7.5% of payable gold (until 990,000 ounces delivered, 3.75% thereafter) and a silver stream for 75% of payable silver (until 50 million ounces delivered, 37.5% thereafter) produced from the Pueblo Viejo mine in the Dominican Republic ;; - A gold stream for 35% of payable gold and a copper stream for 18.75% of payable copper produced from the Mount Milligan mine in Canada; - A gold stream for 10.5% of payable gold (until an aggregate 240,000 ounces delivered, 5.5% thereafter) from

3200-814: The Goldstrike property in 1986 and started production in 1987. The Goldstrike deposit is the largest Carlin-style deposit discovered globally and up until 2018, the mine had produced 44 Moz of gold. In 1988 Franco-Nevada purchased a royalty on the Castle Mountain mine in California . Despite the Castle Mountain mine being unsuccessful, losing money and eventually closing, Franco-Nevada collected triple its investment of $ 2.8 million. Franco-Nevada further went on to purchase royalties in various other commodities, but continued its focus on gold. In

3280-489: The Licensing Economics Review found in a review of 458 licence agreements over a 16-year period an average royalty rate of 7% with a range from 0% to 50%. All of these agreements may not have been at "arms length". In license negotiation, firms might derive royalties for the use of a patented technology from the retail price of the downstream licensed product. In Muslim (Arab) countries, a royalty as

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3360-453: The NAICS classification code and qualify for a 1031 like-kind exchange. Oil and gas royalties are paid as a set percentage on all revenue, less any deductions that may be taken by the well operator as specifically noted in the lease agreement. The revenue decimal, or royalty interest that a mineral owner receives, is calculated as a function of the percentage of the total drilling unit to which

3440-565: The Panamanian congress approved the controversial bill 1100 approving the refreshed concession contract in its third debate, which has led to multiple protests in the country. These protests led to a moratorium on metallic mining throughout the country, "for an indefinite term", through Bill 1110, excluding already granted concessions and approved with 59 votes in favor by the National Assembly (AN), on November 3, 2023. However,

3520-440: The Toronto Stock Exchange from 1983 to 2002. In 1986, Old Franco-Nevada made its first royalty acquisition, and acquired or created additional royalties and resource investments from 1986 to 2002. Following several royalty acquisitions in the 1980s and 1990s, Old Franco-Nevada sold its only mining property to Normandy Mining in exchange for 19.9% of the company's shares. In 2002, Newmont acquired 100% of Franco-Nevada as part of

3600-425: The UK, the scheme was, in early 2012, extended to all artists still in copyright. In most European jurisdictions the right has the same duration as the term of copyright. In California law, heirs receive royalty for 20 years. The royalty applies to any work of graphic or plastic art such as a ceramic, collage, drawing, engraving, glassware, lithograph, painting, photograph, picture, print, sculpture, tapestry. However,

3680-812: The Wassa, Prestea and Bogoso mines in Ghana; - A 2% net smelter return royalty on all metals at the Peñasquito mine in Mexico; - Multiple royalties at the Cortez mine in Nevada, United States. Royal Gold's principal development properties are not in production but are expected to become significant contributors of revenue with plans in place to achieve production status. These include: - A silver stream for 80% of payable silver (can be increased to 100% prior to production at

3760-472: The advent of pop music and major innovations in technology in the communication and presentations of media, the subject of music royalties has become complex. Art Resale Royalty is a right to a royalty payment upon resales of art works, that applies in some jurisdictions. Whilst there are currently approximately 60 countries that have some sort of Resale Royalty on their statute books, evidence of resale schemes that can be said to be actually operating schemes

3840-625: The artist can invoke resale rights (usually the hammer price or price). Some countries prescribe and others such as Australia, do not prescribe, the maximum royalty that can be received. Most do prescribe the calculation basis of the royalty. Some country's make the usage of the royalty compulsory. Some country's prescribe a sole monopoly collection service agency, while others like the UK and France, allow multiple agencies. Some schemes involve varying degrees of retrospective application and other schemes such as Australia's are not retrospective at all. In some cases, for example Germany, an openly tax-like use

3920-498: The artists. In 1999, recording artists formed the Recording Artists' Coalition to repeal supposedly "technical revisions" to American copyright statutes which would have classified all "sound recordings" as "works for hire", effectively assigning artists' copyrights to record labels. Book authors may sell their copyright to the publisher. Alternatively, they might receive as a royalty a certain amount per book sold. It

4000-468: The author 10 percent of 'net receipts' from that deal. The overseas subsidiaries bind up the sheets into book form and sell at full price for a nice profit to the Group as a whole. The only one who loses is the author. In 2003 two American authors Ken Englade and Patricia Simpson sued HarperCollins (USA) successfully for selling their work to its foreign affiliates at improperly high discounts ("Harper Collins

4080-506: The author. There are many risks for the author—definition of cover price, the retail price, "net price", the discounts on the sale, the bulk sales on the POD ( publish on demand ) platform, the term of the agreement, audit of the publishers accounts in case of impropriety, etc. which an agent can provide. The following illustrates the income to an author on the basis chosen for royalty, particularly in POD, which minimizes losses from inventory and

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4160-403: The commission has not been supplied with evidence for any third country which demonstrates that they qualify for inclusion on this list .' [The emphasis is from the European commission web page.] Apart from placing a levy on the resale of some art-like objects, there are few common facets to the various national schemes. Most schemes prescribe a minimum amount that the artwork must receive before

4240-404: The company was named Royal Resources, Inc., and was an oil-exploration company. In 1986, H. Stanley Dempsey, a board member of the public company, transformed the company into a gold mining company and renamed the company Royal Gold, Inc. Dempsey served as Royal Gold's chief executive officer through 2006, as its executive chairman through 2008, and its non-executive chairman through 2014. Dempsey

4320-476: The conditions that metal prices and profitability of this mine would not drop significantly. However, the Government of Panamá halted discussions in December 2022 and announced plans to order suspension of operations at this mine. After a closure of the mine during two weeks, operations resumed and the terms and conditions of a refreshed concession contract between Minera Panamá S. A. and the Government of Panama have been announced on March 8, 2023. In October 2023,

4400-539: The constitutionality of the already approved new concession between the Government of Panana and Minera Panamá S. A. was questioned, leading to more uncertainty. In October 2014, Lundin Mining agreed to acquire an 80% interest in the Candelaria mining complex in the Atacama Region of Chile from Freeport-McMoRan for $ 1.8 billion. To help fund the acquisition cost, Franco-Nevada paid $ 648 million to acquire

4480-488: The developmental phase while Africa nearly tripled to 29%. In the 2009 edition of the Fortune Small Business Magazine (FSB) it ranked 10th among the fastest growing small businesses in the United States, 79 spots higher than in 2008. Royal Gold reported operating cash flow of $ 340.8 million during fiscal 2020 as well as $ 498.8 million in revenue and earnings per share of $ 3.04. In the 1980s,

4560-545: The early 1990s, consulting geologist Ken Snyder convinced the management of Franco-Nevada to stake a play at the intersection of the Carlin and Getchell trends in Nevada, leading to the high-grade gold and silver discovery of what became the Ken Snyder Mine . Franco-Nevada concluded that the mine had a high enough silver credit to carry all operating costs, thereby creating an effective 100% gold royalty . Construction of

4640-546: The election of Khoemacau Copper Mining (Pty.) Limited) produced from the Khoemacau property in Botswana. In the first nine months of 2010 the largest producing mines that it has a royalty interest on were Leeville for gold (321,247 ounces), Robinson for copper (83.1 million pounds), Penasquito for lead (56 million pounds), zinc (86.3 million pounds), nickel (37.2 million pounds) and silver (8.5 million ounces). In addition to

4720-491: The end of January 2018, the subsidiary Franco-Nevada (Barbados) acquired an additional precious metals stream on Korea Resources Corporation’s interest in Cobre Panama and provided a second tranche of funding to First Quantum to assist it with acquiring a further 10% interest in the project. After this transaction, FNB has precious metal stream interests covering 100% of the ownership of Cobre Panama. FNB has funded

4800-479: The following properties there are another 19 in production that only produce gold. In the last three months of the 2011 calendar year Royal Gold relied on Andacollo (23.5%), Voisey's Bay (17.5%), Penasquito (9.2%), Holt (6.1%) for more than half of its revenue. Those mines produced in total 92,358 ounces of gold during the quarter up from 65,862 ounces during the same period a year earlier, only two of them produced anything besides gold. Voisey's Bay and Las Cruces are

4880-428: The interest of publishers than authors: It makes sense for the publisher to pay the author on the basis of what he receives, but it by no means makes it a good deal for the author. Example: 10,000 copies of a $ 20 book with a 10 percent cover-price royalty will earn him $ 20,000. The same number sold but discounted at 55 percent will net the publisher $ 90,000; the author's ten percent of that figure yields him $ 9,000. Which

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4960-419: The landowner to another party. Over time, wind royalties will be fractioned similarly to oil and gas royalties. An intangible asset such as a patent right gives the owner an exclusive right to prevent others from practicing the patented technology in the country issuing the patent for the term of the patent . The right may be enforced in a lawsuit for monetary damages and/or imprisonment for violation on

5040-531: The nature of work and field of endeavor. With respect to music, royalties for performance rights in the United States are set by the Library of Congress ' Copyright Royalty Board . Performance rights to recordings of a performance are usually managed by one of several performance rights organizations . Payments from these organizations to performing artists are known as residuals and performance royalties. Royalty-free music provides more direct compensation to

5120-488: The only major mining operations that don't produce gold. Official website Franco-Nevada Franco-Nevada Corporation is a Toronto, Ontario, Canada-based, gold-focused royalty and streaming company with a diversified portfolio of cash-flow producing assets. It is traded on the Toronto Stock Exchange and New York Stock Exchange . The Old Franco-Nevada was a publicly listed company on

5200-583: The operator of the well. Royalties in the lumber industry are called " stumpage ". Landowners who host wind turbines are often paid wind royalties, and those nearby may be paid nuisance payments to compensate for noise and flicker effects. Wind royalties are usually paid quarterly, semi-annually, or annually, and the royalty can be a flat rate or variable payment based on production or a combination of both. Unlike oil and gas royalties, which typically decline over time, wind royalties often have an escalation clause, making them more valuable over time. Because there

5280-481: The owner to sell goods or services under the mark. A company may seek to license a trade mark it did not create to achieve instant name recognition rather than accepting the cost and risk of entering the market under its own brand that the public does not necessarily know or accept. Licensing a trade mark allows the company to take advantage of already-established goodwill and brand identification. Like patent royalties, trade mark royalties may be assessed and divided in

5360-518: The patent. In accordance with a patent license, royalties are paid to the patent owner in exchange for the right to practice one or more of the basic patent rights: to manufacture, to use, to sell, to offer for sale, or to import a patented product, or to perform a patented method. Patent rights may be divided and licensed out in various ways, on an exclusive or non-exclusive basis. The license may be subject to limitations as to time or territory. A license may encompass an entire technology or it may involve

5440-484: The patented technology, as an alternative remedy. In the old days, US courts often used so-called "entire market rule" or "25% of the profits" rule. However, this practice was rejected by a federal appeals court in 1971. Instead, the courts are required now to use a holistic approach according to Georgia-Pacific Corp. v. United States Plywood Corp. decision. The decision established 15 Georgia-Pacific factors , to be considered, when determining reasonable royalty as

5520-474: The profits (if any) to the publisher. The publishing company pays no royalty on bulk purchases of books since the buying price may be a third of the cover price sold on a singles basis. Unlike the UK, the United States does not specify a "maximum retail price" for books that serves as base for calculation. Methods of calculating royalties changed during the 1980s, due to the rise of retail chain booksellers, which demanded increasing discounts from publishers. As

5600-422: The publishers advance an amount (part of the royalty) which can constitute the bulk of the author's total income plus whatever little flows from the "running royalty" stream. Some costs may be attributed to the advance paid, which depletes further advances to be paid or from the running royalty paid. The author and the publisher can independently draw up the agreement that binds them or alongside an agent representing

5680-411: The quality of the good or service. They may bring consumers a sense of security, integrity, belonging, and a variety of intangible appeals. The value that inures to a trade mark in terms of public recognition and acceptance is known as goodwill. A trade mark right is an exclusive right to sell or market under that mark within a geographic territory. The rights may be licensed to allow a company other than

5760-454: The resource, the transaction often has to follow legal and regulatory requirements. In the United States, fee simple ownership of mineral rights is possible and payments of royalties to private citizens occurs quite often. Local taxing authorities may impose a severance tax on the unrenewable natural resources extracted or severed from within their authority. The Federal Government receives royalties on production on federal lands, managed by

5840-532: The result is often a franchise relationship. Franchise relationships may not specifically assign royalty payments to the trade mark licence, but may involve monthly fees and percentages of sales, among other payments. In a long-running dispute in the United States involving the valuation of the DHL trade mark of DHL Corporation , it was reported that experts employed by the IRS surveyed a wide range of businesses and found

5920-495: The right is compulsory for the individual right holder. Whether the common law conception of an individual economic right as an "individual right of control of usage" is compatible with the Code Civil origins of droit de suite is open to question. The UK is the largest art resale market where a form of ARR is operating, details of how the royalty is calculated as a portion of sale price in the UK can be accessed here DACS In

6000-541: The royalty rate is set at 5% of gross revenues or 30% of net revenues . In this manner risks and profits are shared between the government of Canada (as resource owner) and the petroleum developer. This attractive royalty rate is intended to encourage oil and gas exploration in the remote Canadian frontier lands where costs and risks are higher than other locations. In many jurisdictions in North America, oil and gas royalty interests are considered real property under

6080-617: The silver production on the giant Antamina mine in Peru. Teck owns its stake in Antamina along with BHP , Glencore and Mitsubishi Corp. Antamina is the world’s eighth-largest copper mine. A possible future underground expansion at Antamina could extend the mine life beyond 40 years. In February 2016, Franco-Nevada (Barbados) acquired a gold and silver steam related to the Antapaccay mine in Peru from Glencore for $ 500 million. The deal

6160-517: The time. In 2007 Newmont spun off Franco-Nevada in an initial public offering (IPO). Franco-Nevada has grown substantially since the IPO through the acquisition of existing royalties but also by acquiring precious metal streams directly from mine operators. The largest acquisitions have been by-product gold and silver streams from some of the world’s largest copper mines including Cobre Panama ( Panama ), Candelaria ( Chile ), Antapaccay ( Peru ) and

6240-619: Was inducted into the National Mining Hall of Fame in 2016. 2010 was the year the company experienced the most growth with over a billion of the $ 1.86 billion in assets it has (September 2010) added during the year. In 2007 it purchased an interest in the Penasquito mine which did not begin producing until 2010. February 2010 completed the acquisition of another royalty company, IRC which has claims in Chile (Pascua Lama) and Canada (Voisey's Bay). International Royalty Company

6320-584: Was part of a $ 10 billion debt reduction plan announced by Glencore in September 2015. Glencore invested more than $ 1.5 billion to build and commission the Antapaccay open-pit mine and plant, which started operations in 2012. Glencore received approval from Peruvian authorities in January 2020 for the development of the Coroccohuayco project on the Antapaccay property. The integrated project would have

6400-567: Was quick to accept the $ 702 million deal from Royal Gold after Franco-Nevada attempted a hostile $ 640 million takeover. By the end of the 2020 fiscal year, the company owns interests on 41 producing mines (June 30, 2020). In July 2022, Royal Gold acquired Great Bear Royalties for $ 153 million. Royal Gold's principal producing properties are generally in production and are the most significant contributors of revenue to its portfolio. These include: - A gold stream for 100% of payable gold (until 900,000 ounces delivered, 50% thereafter) produced from

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