Having Trouble Licensing Your Work?
A Los Angeles Royalty Disputes Attorney Will Help You Resolve Your Contract Dispute
A royalty is payment (i.e. a percentage of gross or net profit or a fixed amount per sale) for the use of property. It especially applies to copyrighted works, patented inventions and natural resources. When you license your work, whether it is through a copyright or a patent, you retain legal ownership of your work. Anyone who uses your product to generate revenue should issue out royalty payments. You can negotiate or memorialize the terms of your payment with a royalty agreement.
A real world example is the Windows operating system. In the 1980’s, software giant Microsoft invented the Windows operating system for personal computers. Since then, computer manufacturers such as IBM and Compaq have used the Windows operating system in their computers. To allow use of its product, Microsoft enters into a royalty agreement with these computer manufacturers. They then, pursuant to the agreement, pay a royalty to Microsoft to use its product.
Royalty disputes arise when you believe that the terms of your royalty agreement have been breached by the licensee. For example, you may not get the royalty payment, or other benefit, that you originally agreed to. A Los Angeles royalty disputes attorney experienced in intellectual property can help you resolve your contract dispute.