Royalty agreements

Royalty agreements are contracts where one party pays another for the right to use their intellectual property, such as music, literature, patents, or trademarks. In these arrangements, the owner of the property (the licensor) grants permission to another party (the licensee) to use their work, often in exchange for a percentage of sales, a fixed fee, or both. These agreements help creators earn money from their work while allowing others to legally use it, ensuring both parties benefit from the arrangement.