Definitions

These are the definitions that are used within the context of the Tigunia Royalty Management app

Royalty is a payment made to an invividual or a company for the use of an asset that they own. Usually this applies to intellectual property (IP)

An asset that is the subject of Royalty. This can be a song, an image, a copyrighted work. In the Tigunia Royalty Management app, IP is represented as records in the Brand table

The individual or company that owns the IP. Tigunia Royalty Management stores licensors in the Licensor table, and these are linked to Vendors in standard Business Central

The individual or company that owes Royalty to the Licensor. Within the context of the Tigunia Royalty Management app, you (the Company in Business Central) are the Licensee

The contract between the Licensor and the Licensee that defines the terms of the usage of the Licensor’s IP and the details of the payment for this usage. In Tigunia Royalty Management, the license agreement is stored in the Contract table, and a number of tables that are linked to the Contract table: Contract Brand, Contract Payee