Residual Value

Actual residuals are, more or less, royalties paid to copyright, patent, or other intellectual property owners as the result of sales made by others. They're not the actual sale of the thing, like the record album (or rather, iTunes unit), but they're the "residue" from them. Sort of derrogatory, but hey, it's money, so we'll take it.

Residual value, technically, is the discounted cash flow valued stream of residuals due the licensor by the licensee of some intellectual property. But that's the technical def. The real, in-parlance def of the term is that there's "not much left" of old Bessie, the tractor stamping factory after 62 years. She's about ready to be melted to scrap and sold for radial tires and concrete pouring spines after the bosses sit shiva for 7 days. Her residual value will just be whatever she commands by the scrap metal buyer when he hauls her away to the great melting pot in the sky.