Royalty

Royalty refers to the status, power, and privileges associated with members of a royal family, such as kings, queens, princes, and princesses. It is a term often used to denote those who hold sovereign authority or significant social rank within a monarchy. In a broader sense, royalty can also encompass the ceremonial and formal aspects of governance, traditions, and cultural practices related to the monarchy. Furthermore, the term may also refer to payments made to authors, inventors, and artists as a share of the revenue generated from the use of their intellectual property, although this usage is distinct from its primary definition related to monarchy. Typically, royalty denotes both an inherited position and the dignified, often revered status that such individuals hold in society.