Royalty Payments

Royalty payments are fees paid to creators, such as authors, musicians, or inventors, for the use of their intellectual property. When someone uses their work—like a song played on the radio, a book published, or a patented invention—they pay a percentage of the revenue generated or a set amount per use. This system ensures that the original creators receive compensation for their contributions and encourages further creativity and innovation. Royalties can be an essential income source for artists and inventors, reflecting the value of their work in the market.