Group of 7 countries (G7) Compared by Economy > Balance of payments > Current account > Goods > Services and income > Royalty and license fees > Receipts > BoP,
DEFINITION:
Royalty and license fees are payments and receipts between residents and nonresidents for the authorized use of intangible, nonproduced, nonfinancial assets and proprietary rights (such as patents, copyrights, trademarks, industrial processes, and franchises) and for the use, through licensing agreements, of produced originals of prototypes (such as films and manuscripts). Data are in current U.S. dollars.".
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