Buyout
Also called: redemption
Buyout is the fee that buys off the right to use creative work and/or rights without having to pay separately for each individual use. Often a buyout is linked to a certain period of time during which the use is permitted. Such a fixed-term buyout can be extended by mutual agreement (often at a lower rate).
An example of buyout is the agreement with a voice actor to continue using a recorded commercial for an extended period of time, without requiring new obligations or permission each time.
Buyout in business
The literal translation of buyout is "to come out. The term can also refer to buying out the owners of a company by taking over a majority or all of its shares. Well-known is the "management buyout," in which the management of the company also acquires ownership.
