A royalty is a fee that one party (the licensee) pays to another party (the licensor) for the use of intellectual property, including logos or copyrights. For example, Fabrikam sells t-shirts that have a small logo on the sleeve. The logo is owned by Contoso. This means that Fabrikam, the licensee, must pay Contoso, the licensor, a royalty for use of the logo.
Please click here or below link watch the video for Royalty Agreements & Claims in Dynamics AX2012 R3
https://youtu.be/lchEFqv8Zqg
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