Royalty rates

Royalty rates refer to the percentage or fixed amount paid to the owner of a product, idea, or intellectual property when others use or sell it. For example, when a musician creates a song, they may receive a royalty each time it’s played on the radio or streamed online. These rates vary based on agreements, industry standards, and the type of product or service involved. Essentially, royalties provide compensation for the creator's work and help incentivize innovation by rewarding those who invest time and resources into developing new ideas or content.