[Scuba Diving] Felicia invented a new type of mask that was not subject to fogging for scuba divers and obtained a patent on it. She agrees to allow Mei to manufacture and sell the mask. She receives a sum of money for every mask that Mei sells. Felicia also entered into an agreement with Evan to allow him to sell the masks, but only if he also purchased non-patented diving suits from Felicia. All parties proceeded to do very well with their sales.
-Payments that Felicia would receive from Mei for the sale of the mask are referred to as which of the following?
A) Profits
B) Receipts
C) Royalties
D) Payoffs
E) Illegal

Question

Quizplus · Accepted Answer

The payments Felicia receives from Mei for each mask sold are referred to as royalties. Royalties are payments made to the owner of a patent, copyright, or other property right for the right to use that property, typically calculated as a percentage of the revenues generated by the sale of the products using the property.

[Scuba Diving] Felicia Invented a New Type of Mask That