MINIMUM-ROYALTY CLAUSE

MINIMUM-ROYALTY CLAUSE

minimum-royalty clause. Patents. A royalty-agreement provision that prescribes a fixed payment by the licensee to the patentee, regardless of whether the invention is actually used. [Cases: Patents 218(1), (5).C.J.S. Patents ¡ì¡ì 365¨C368, 371.]
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Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.