Royalty (noun)

1. Royal persons collectively.
2. A person who belongs to the royal family.
3. A payment made by a manufacturer or producer to an owner of a patent, mine, or oil or gas well for the right to use their property.
4. The status or quality of being royal.

Origin:

Middle english: from old french roialte, from roial (see royal).

Examples:

1. The royalty of the country attended the ceremony.
2. Prince Charles is a member of the British royalty.
3. The company paid a royalty to the inventor for using his patent.
4. The royalties from the oil well were shared among the partners.
5. The book's success has brought the author a great deal of royalty income.