What is royalty? How does it differ from rent?

Royelty ia a payment to an owner for the use of property, especially patents, copyrighted works, franchises or natural resources. A royalty payment is made to the legal owner of a property, Rent means reward paid for the use of land; it is received by the land-lord (landowner) and paid by the user of land (tenant)

DIFFERENCE BETWEEN ROYALTY & RENT:

• Royalty is the consideration payable for the use of special right for both tangible and intangible assets. But rent is the consideration payable for the use of only tangible assets.
• Royalty is paid either on the basis of output or sale, whereas rent is paid on the basis of period.
• Royalty varies on the basis of output or sales. But rent is fixed.
• In royalty, parties are known as lessee, patentee, or publisher; and lessor, patent holder, or author, and so on. But in rent, parties are known as tenants and landlord.
• Royalty generally contains a clause in the agreement to pay a minimum amount. But in rent, there is no concept of minimum rent.

• Royalty is a term used in the mining industry. Eapecially in the coal and iron ore mining a roalty has to be paid to the owner of the land. Rent is paid on land and building ,plant and machinerry , by the production industry.
• Royalty is paid when something is mined from underground.
• Rent is paid  for space occupied by a production unit . It is an overhead cost and considered along with other overhead costs like lighting, plumbing etc.

Royalty is proportional right of owner/producer on an asset/product upon which professionals/entity earn income on long term basis by exploring natural resources or by selling products. Whereas, the rent is fix amount which is paid to owner for specific period of time.  Shahban Elahi Shahid

Royality which receive from fopyrights on literary ,musical , or artistic work and simlar property, from a patent on invention, royalties from oil,gas ,or other minral properties

Rent is an amount which we receive or accrue as rent, for a use of deperciable property used in a trade or business.

Rent is the consideration payable for the use of tangible assets i.e. Building and machinery etc.

Royalty is the consideration payable for the use of special right in a tangible or intangible asset.

when person or company want to use another company name for business then person or company pay for using company name this known as royalty.

rent is when company acquired building,plant etc and pay money for using that building or plant etc is known as rent.

Royality means the amount to be paid to the owner of the actual property(copy rights,patents..,. etc) according to the contract signed.

Rent is the amount paid for the use of fixed asset(Land,Building,Machinery..,. etc ), here also the amount is paid according to the contract. it may be for short run or long run by changing or extending the contract.

The major diffrence of the two is as follows:

Rent is basically a compensation paid for an asset taken into possesion for a specified period of time " REGARDLESS" of the use of the asset. For example you have rented a car for a week. Even if you use the car once or twice, you will still have to pay the rent for the7 days. 

On the other hand royaly is paid on the basis of "USE" of the intellectual property or depreciable assets like mines. 

Rent is the fixed amount which one has to pay for a certain period viz time based whereas the royalty is on production or exploration viz quantity based.