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Encyclopedia > Royalties

Royalties, sometimes simply referred to as "royalty", is typically the sum of money paid to the proprietor or licensor of intellectual property (IP) rights for the benefits derived, or sought to be derived, by the user (the licensee) through the exercise of such rights. Royalties may be paid for the use of copyright, patent, trademark, industrial design, procedural knowledge or a combination of them. However, the term has also a much wider application and can cover mining royalties, performance of art royalties, etc. Members of the British Royal Family This article is about the monarchy-related concept. ... For the 2006 film, see Intellectual Property (movie). ... Copyright symbol Copyright is a set of exclusive rights regulating the use of a particular expression of an idea or information. ... A patent is a set of exclusive rights granted by a state to a patentee (the inventor or assignee) for a fixed period of time in exchange for the regulated, public disclosure of certain details of a device, method, process or composition of matter (substance) (known as an invention) which... A trademark or trade mark[1] is a distinctive sign of some kind which is used by an individual, business organization or other legal entity to uniquely identify the source of its products and/or services to consumers, and to distinguish its products or services from those of other entities. ... To meet Wikipedias quality standards, this article may require cleanup. ... Procedural knowledge or know-how is the knowledge of how to perform some task. ... This article is about mineral extraction. ...

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Intellectual property

The express rights granted to the licensee, and the amounts to be paid to the licensor for the exercise thereof, are set out in a documented license agreement. The agreement specifies the method of calculating the royalties and the period over which the payments become applicable. Normally, the agreement is for a specific period after which it may be renewable for a further period, but equally, it may be a fixed-term licence, subsequent to the termination of which the licensee cannot continue to derive benefits from the rights originally granted. In the typical case, however, agreements are renewed until the licensee and the licensor consent to terminate the agreement. It is to be noted, however, that unless the license is exclusive, the licensor may have a number of co-existing licensees who may pay the same or different royalties for the licensed IP depending on the circumstances prevailing at the time each agreement was negotiated. It has been suggested that Licensing (strategic alliance) be merged into this article or section. ... Look up Agreement in Wiktionary, the free dictionary An agreement may be an agreement in beliefs, rules, practices (policies), or conduct. ...


The royalty amount is calculated by a formula specified in the licence agreement which defines the royalty rate and the unit base on which it is to be applied. For example, the royalty rate (sometimes also simplified to royalty) may be stated to be 3% of the 'annual sales value' of the product sold by the licensee in a territory. The latter identification, the 'annual sales value' is then the 'unit base' for the calculation. Or,equally, the base may be x cents per kilogram of the licensed product manufactured or sold (the context being important). Or the royalty could be just stated as $ XXX per year without any elaboration of the base (seldom done).


The royalty rate applied is, generally, not an arbitrary determination of the licensor (See Royalty rate assessment). It is the typical practice for both parties to the agreement to negotiate all factors which apply to the license, one component of which is its cost ie.the royalty. The length of the license period, the benefit to the licensee in the territory (or territories) over which the license rights apply, the 'permanence' and quality of the technology or rights conferred, the size of markets, the reputations of the licensor and licensee, the risk of licensing to the licensor and other related factors are considered. // Royalty Rate Assessment is a practical tool to gauge the impact of a royalty commitment in a technology contract to the business interests of the contracting parties. ...


Copyright royalties

Book authors may sell their copyright to the publisher. Some photographers and musicians may choose to publish their works for a one-time payment. This is known as a royalty-free license. An author is the person who creates a written work, such as a book, story, article or the like. ... Copyright symbol Copyright is a set of exclusive rights regulating the use of a particular expression of an idea or information. ... This article is concerned with the production of books, magazines, and other literary material (whether in printed or electronic formats). ... This is a list of notable photographers in the art, documentary and fashion traditions. ... A musician is a person who plays or composes music Musicians can be classified by their role in creating or performing music: A singer (or vocalist) uses his or her voice as an instrument. ... Royalty free pictures It’s said that a picture is worth a thousand words. ...


Performance royalties

Copyright law extends protection to each public performance of a copyrighted work. In the United States, performance royalty rates are set by the Library of congress' Copyright Royalty Board. Mechanical rights to recordings of a performance are usually managed by one of several performance rights organizations. Payments from these organizations to performing artists are known as residuals. Royalty free music provides more direct compensation to the artists. In 1999, recording artists formed the Recording Artists' Coalition to repeal supposedly "technical revisions" to American copyright statutes which would have classified all "sound recordings" "as works for hire", effectively assigning artists copyrights to record labels.[1] [2] The Great Hall interior. ... The Copyright Royalty Board is a system of three Copyright Royalty Judges who determine rates and terms for copyright statutory licenses and make determinations on distribution of statutory license royalties collected by the Copyright Office of the Library of Congress. ... Historical records of events have been made for thousands of years in one form or another. ... A performance rights organisation exists to collect and distribute royalties on behalf of audio and video artists, for performances of their copyrighted works under copyright law. ... Link titleBold textI love Dana and she is my whole world!!!! ... A residual is a payment made to the creator of performance art (or the performer in the work) for subsequent showings or screenings of the (usually filmed) work. ... Royalty-free music commonly refers to stock or library music licensed for a single fee, without the need to pay any subsequent royalties. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ... The Recording Artists Coalition (RAC) is an American music industry organization that represents recording artists, and attempts to defend their rights and interests. ... This does not adequately cite its references or sources. ...


Patent royalties

In the United States, a patent owner, or patentee, is legally entitled to no less than a "reasonable" royalty from an entity that infringes said owner's patent. If the patent owner has lost profits due to infringement, and if said lost profits are more than a reasonable royalty, then the patent owner is entitled to a royalty up to the amount of lost profits. A patent is a set of exclusive rights granted by a state to a patentee (the inventor or assignee) for a fixed period of time in exchange for the regulated, public disclosure of certain details of a device, method, process or composition of matter (substance) (known as an invention) which... The examples and perspective in this article or section may not represent a worldwide view. ...


Normally, a patent owner and a patent infringer will negotiate a mutually agreeable license so that the patent owner will give the patent infringer the legal right to make, use, or sell the patented invention, and the patent infringer will compensate the patent owner in some manner. An invention is an object, process, or technique which displays an element of novelty. ...


If they cannot come to agreement, the patent owner may sue the patent infringer in a U.S. federal court. 70% of the cases that are filed are settled before the court reaches a decision. [3] If the case does go to trial, however, then evidence will be presented related to validity of the patent, whether or not it was infringed, what a "reasonable" royalty is in the field of the patented invention and what the patent owner's lost profits are. Evidence will also be presented as to whether or not the alleged infringer "willfully" infringed the patent. If the court finds that the infringement was willful, then punitive damages may be assessed. Punitive damages may be up to three times actual damages.[4] The United States federal courts are the system of courts organized under the Constitution and laws of the federal government of the United States. ...


"Reasonable royalty" is a legal term in United States patent law. It is the minimum amount of royalty that a patent owner is entitled to from an infringer. The United States patent law is a first-to-invent patent legal framework in contrast to all other national patent laws. ... A patent is a set of exclusive rights granted by a state to a patentee (the inventor or assignee) for a fixed period of time in exchange for the regulated, public disclosure of certain details of a device, method, process or composition of matter (substance) (known as an invention) which... The examples and perspective in this article or section may not represent a worldwide view. ...


The maximum amount that a patent owner is entitled to is their lost profits. Profit is what is gained, after costs are accounted for. ...


Royalties as a means of financing and investing in companies and projects

A patent pending approach to investing and financing companies using royalties is described at [1]. Investors, directly or through an underwriter or investment banker, purchase from companies an agreed percentage of the company's future revenues, for an agreed period of time, for an agreed consideration. The royalty contract units issued by the companies are fully negotiable and transferable. Royalties are agreements between two or more parties and are not securities.


See also

This article or section does not cite its references or sources. ...

References

  1. ^ Four little words. Retrieved on 2007 March 15.
  2. ^ Don Henley Speaks on Behalf of Recording Artists. Retrieved on 2007 March 15.
  3. ^ Moore, Kimberly, "Empirical Statistics on Willful Patent Infringement"
  4. ^ US patent law, 35 USC 284, on “reasonable royalty” due a patent owner when a patent is infringed.

  Results from FactBites:
 
License - Royalty Rights (1029 words)
Licensees in their standard contracts often propose a royalty rate of only half the amount being offered on a wholesale sale when the sale is at retail.
Thus, if royalties were due within 30 days from when the goods were shipped, versus when the licensee receives payment from its retail customers, it could make the difference in receipt of royalty payments for the licensor of a period of several months.
If the royalty is not adjusted upward for an FOB transaction, the actual royalty being paid to the licensor (if based on the same percentage point such as 6 percent) is significantly less than the standard wholesale royalty.
  More results at FactBites »

 
 

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