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Step 1
Inventor can receive royalty by granting another entity or person the license to use his or her work. There are exclusive license to use and non-exclusive license to use.
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Step 2
Exclusive license to use meaning the inventor exclusively grant one or more of his invention to one particular company or person, and non-exclusive license to use meaning the inventor can grant as many as entity or person to use his or her invention.
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Step 3
Franchisor receives royalty from franchisee. Franchisor sell products or services to public and create system to run a business, then franchisor grant the franchisee to sell the same products or services and to use their system, in exchange for royalty and franchise fees.
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Step 4
Author or writer can receive royalty from their work, book authors can receive payment for every book sold. However some writers prefer to sell their work for higher one time at front fee and transfer the article ownership to the publisher, then in this case they may not receive any royalty.
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Step 5
Producer, composer and artist also can receive royalty from every products (CD, DVD, etc.) sold to the public.
Comments
sullysee said
on 7/2/2009 Nicely put.
scorpioswan said
on 6/30/2009 Wonderfully written article, 5 stars!
ec3256 said
on 6/27/2009 This is an area that I have no knowledge of, so I appreciate greatly your articles. I read "How to Receive Royalties."
Thanks for the request as friend, will add, and rrrc.
Looking forward to more articles, I am currently working on more articles, putting up website/blog, so it may take me longer than usual to get back to my friends since I am just starting out. But I will reply.
Thanks again,
ec3256 (aka Mirabelle)
betterbody said
on 5/19/2009 Thanks for the tips on receiving royalty. 5 *s and a recommend.
omghow said
on 5/17/2009 Thanks for the information. always wondered how this work. Cheers