[ad_1]
If you have taken the necessary steps to register your copyrighted works, you will inevitably be able to obtain royalties from them. To take advantage of this opportunity, you need to read the copyright license agreements.
Copyright License Agreement
The copyright license agreement sets out the terms under which a third party may use your content. In legal language you will be the “licensor” and the other party will be the “licensee”. The purpose of the agreement is to define the terms under which the licensor grants a third party, the licensee, the right to use, publish or reuse a copyrighted work in exchange for a royalty. Let’s take a closer look at the key elements of the license agreement.
Special rights granted
This may seem obvious, but the contract must state exactly what copyrighted material you can use. If you have copyrighted articles, do you grant the right to use all of the articles, or only some? It is strongly recommended that the contract includes a detailed description of the specific material concerned.
After agreeing on the exact materials, you must define any restrictions on how the material can be used. Can the material be used online or will it be limited to a specific niche such as textbooks or collections of materials?
It is extremely important whether the contract confers exclusive or non-exclusive rights. In English, it simply means whether the licensor can grant similar rights to other parties. Granting exclusive licenses should require a much higher royalty rate as you basically assume the third party will be successful.
License royalties
A third party will pay you a license fee in exchange for a copyrighted work. The exact amount of royalties depends on the nature of your work. Considerations include:
1) Will you receive a fixed amount or percentage of sales?
2) If percentage, will it be calculated from gross income or less?
3) How often will you be paid?
4) What rights do you have to audit third party books to determine if you are receiving full royalties?
In some situations, you may choose not to pay royalties. This usually happens when a third party uses the material in a way that will bring you enormous publicity. For example, many professionals are looking for suitable publishing columns as a marketing tool. They often don’t charge a publishing fee for material because the resulting publicity has enough benefits.
In closing
If you are considering licensing copyrighted content, keep the above in mind. Since such contracts are difficult to break, it makes sense to hire a lawyer.
[ad_2]
Source by Richard Chapo