👉 Royalties, also known as copyright fees or patent royalties, are payments made by the owner of a creative work to the person who first uses it for commercial purposes. These payments can be in the form of money, in the form of goods, or both. The royalty rate is determined by various factors such as the type of work, the duration of the use, and the market value of the work. Generally speaking, royalties are paid to the creator of the work rather than to the person who
