Description: This Royalty Agreement is between a party that owns products or intellectual property that allows another party to sell, use or distribute the property in return for a percentage of gross sales. Customize the type of property to be sold, the length of the agreement, the royalty percentage, whether there will be an initial lump sum payment, arbitration provisions and more. This agreement is ideal for individuals or small businesses that want to assign or obtain a license to sell products in return for a percentage of sales.