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Royalties are monetary sums paid to you as the licensor by a third party in exchange for the use of your IP.
Royalties allow creators, innovators and other intellectual property owners to financially gain from their IP assets.
How much is paid is between the licensee and the licensor, along with other terms and conditions for use is dependent on what the licensee and the licensor have negotiated. Royalties are often paid for the use of music, imagery, literature, film and more.
While some royalties can be paid as a fixed fee, they are more often calculated as percentages of revenues or sales of a protected product.
The licensee typically agrees to pay a set percentage of either the gross or net revenue, or profit they earn as a result of using another’s IP. Alternatively they may agree to pay a set amount for each licensed product sold.
The exact percentage will be something that is determined through negotiation taking into account the value of the IP in question. The more exclusive the licence and unique the IP - the better royalty percentages that can be demanded.
Licensing your IP and receiving royalties does not indicate a transfer of ownership or loss of control over your IP.
However, to ensure you are receiving a fair sum and your rights are not being compromised, it is vital to have a legally binding royalty agreement prepared by a qualified IP solicitor or attorney.
This agreement needs to be fair for both you and the licensee and make allowances for changes in the value of the IP over time.
An IP attorney can draft this agreement for you in careful consideration of all these factors.
I found them online and initially I was bit hesitant to talk to them about my problem but when I spoke to Barry, I felt more comfortable, and he gave me all the information and advice I wanted without even thinking that I am going to give him business or not. Finally, I went with them, and they made the entire process so smooth and easy for me. john was keeping us updated with each step he was doing. I would recommend these guys for any patent or trademark related service.
I would like to express my thanks to Barry and his team at IP Guardian in Sydney for their assistance with our recent Trademark application. Barry was highly professional, readily available throughout the process and clearly communicated expectations. Barry even helped us refine our application so that we had a greater chance of success which was very much appreciated to avoid extra costs. I would highly recommend Ip Guardian for all your Trademark and Intellectual Property needs.
Barry, last week, you and your professional team, made my year (or probably my next 21 years). So thank you so much for your executive, calm yet very effective actions under extream pressure. Elias Hajjar, Director, TROLLEYON PTY LTD
Informative, understood the business, what it needed and answered questions in a friendly and approachable manner. Easy decision to continue working with IPGuardian for future trademarking
From the day I contacted Barry Meskin until now with my silly amateur questions, he has been nothing short of amazing. I actually NEVER leave reviews anywhere, but I felt the need to do so for Barry and his team. I myself am a tradie, so I felt intimidated speaking to an attorney. But the second I spoke to him on the phone, he made me feel right at home. Never pressured me into any decisions, yet when I decided to go ahead with him, he delivered what I needed much quicker than what I was expecting. I cannot speak highly enough of him and recommend his services 100%.
The team at IP Guardian have made the process extremely straight forward and easy for us to understand exactly what was required. I will highly recommend to our clients who need help with IP.
I have dealt with Barry over the years, his advice and experience has helped me greatly. Looking for to working with him and his team again. Maher.
IP Guardian helps protect words, symbols, letters, numbers, names, signatures, phrases, sounds, shapes and smells. Yes, I said smells.
We've had the pleasure to work closely with Barry for many years. He has been exceptional to deal with and has a keen focus in providing a commercial led IP "go to market" strategy for start-ups and well known brands. Makes it easy and always advises on different ways to navigate through the IP process.
Barry Meskin @ IP Guardian is an experienced and extremely knowledgeable expert in the domain of intellectual property, patents and trademarks. In addition he has been extremely responsive and very professional in all our dealings. I wholeheartedly recommend Barry's services to any business or anyone seeking advice in this area - great quality and great value.