What are the different types of royalty?

What are the different types of royalty?

There are several types of royalty, including literary, musical, and patent royalties. Would you like to know more about a specific type?

Yes, tell me about literary royalties.

Literary royalties are payments made to authors based on the sales of their books. Typically, authors earn a percentage of the sales price.

How are these royalties calculated?

They are usually calculated as a percentage of the book's retail price or net sales, often ranging from 5% to 15%.

What about musical royalties?

Musical royalties are earned by songwriters and artists when their music is sold, streamed, or performed publicly. They can include performance, mechanical, and sync royalties.