Royalties (sometimes, running royalties, or private sector taxes) are usage-based payments made by one party (the "licensee") to another (the "licensor") for the right to ongoing use of an asset, sometimes an intellectual property (IP). Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation. A royalty interest is the right to collect a stream of future royalty payments, often used in the oil and music industries to describe a percentage ownership of future production or revenues from a given leasehold, which may be divested from the original owner of the asset.

A license agreement defines the terms under which a resource or property such as petroleum, minerals, patents, trademarks, and copyrights are licensed by one party to another, either without restriction or subject to a limitation on term, business or geographic territory, type of product, etc. License agreements can be regulated, particularly where a government is the resource owner, or they can be private contracts that follow a general structure. However, certain types of franchise agreements have comparable provisions.^{[clarification needed]}

Warren G (born Warren Griffin III, November 10, 1970), is an American West Coast rapper and hip hop producer.

Warren G grew up in Long Beach, California listening to his parents’ collection of jazz, funk and soul; nurturing a deep love for music. In 1990, he formed the group 213, named after the Long Beach area code, with his friends Nate Dogg and Snoop Dogg. The current area code in Long Beach, California is 562. While practicing with “213,” and working a full time job, the young Warren used all his free time on creating his own sound and dreamed of making it big.

The trio “213” dissolved when two of its members signed with Death Row Records. Although Warren G had the option of joining Death Row and work with his step-brother Dr. Dre, Warren preferred, from the very beginning of his career, to focus primarily on his solo career. True to his independent spirit, Warren G dedicated himself to creating his own sound; a distinct style that was later to become known, worldwide, as the legendary G-Funk.