Royalties

Royalties are payments made to individuals or organizations for the use of their intellectual property, such as music, books, patents, or trademarks. When someone uses, sells, or distributes a work that is protected by copyright or other rights, they often owe royalties to the creator or owner of that work. These payments can be fixed amounts or a percentage of sales and are typically outlined in a contract. Royalties ensure that creators are compensated for their contributions and can provide a steady income stream based on the popularity and use of their work.