royalty
Pronunciation:
/ˈɹɔɪəlti/noun
Definitions
The rank, status, power or authority of a monarch.
People of royal rank, plus their families, treated as a group.
A royal right or prerogative, such as the exploitation of a natural resource; the granting of such a right; payment received for such a right.
The payment received by an owner of real property for exploitation of mineral rights in the property.