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| What is a royalty? | Why sell a royalty? | Who holds royalties? | Typical Process | |||||
| A typical biopharmaceutical product may have a number of unrelated parties that contribute to its successful development. These may include the product's inventor and the university or other institution for which he or she works, the company that performs early clinical testing on the product, or the company that provides a unique technology or expertise critical to the invention or development of the product. | |||||