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What does royalty mean?

Looking for the meaning or definition of the word royalty? Here's what it means.

Noun
  1. The rank, status, power or authority of a monarch.
  2. People of royal rank, plus their families, treated as a group.
  3. 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.
  4. The payment received by an owner of real property for exploitation of mineral rights in the property.
  5. (by extension) Payment made to a writer, composer, inventor etc for the sale or use of intellectual property, invention etc.
  6. (figuratively) Someone in a privileged position
  7. (poker, slang) A king and a queen as a starting hand in Texas hold 'em.
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