Difference between revisions of "Intellectual Property"
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A [[Royalty]] - or more commonly [[Royalties]] - is the term used for the income earned by an author or composer for each copy of his/her book sold or for each public performance of a work, and by a patentee for the use of his/her patent. | A [[Royalty]] - or more commonly [[Royalties]] - is the term used for the income earned by an author or composer for each copy of his/her book sold or for each public performance of a work, and by a patentee for the use of his/her patent. | ||
| − | The website ''Investopedia''[https://www.investopedia.com/terms/r/royalty.asp] expands on this and defines a [[Royalty]] as follows: | + | The website ''Investopedia''[https://www.investopedia.com/terms/r/royalty.asp] expands on this and usefully defines a [[Royalty]] as follows: |
| − | "A royalty is a payment to an owner for the ongoing use of their asset or property, such as patents, copyrighted works, franchises, or natural resources. The legal owner of the property, patent, copyrighted work, or franchise receives a royalty payment from licensees or franchisees who wish to make use of it to generate revenue. In most cases, royalties are designed to compensate the owner for the asset's use, and they are legally binding." | + | "A royalty is a payment to an owner for the ongoing use of their asset or property, such as patents, copyrighted works, franchises, or natural resources. The legal owner of the property, patent, copyrighted work, or franchise receives a royalty payment from licensees or franchisees who wish to make use of it to generate revenue. In most cases, royalties are designed to compensate the owner for the asset's use, and they are legally binding.... The terms of royalty payments are laid out in a license agreement." |
= Intellectual Property Rights in South Africa = | = Intellectual Property Rights in South Africa = | ||
Revision as of 06:11, 1 June 2019
Contents
Intellectual Property
Copyright
A copyright is an exclusive right granted by law (internationally) for a limited period to an author, designer, etc. for his/her original work. Unlike other forms of intellectual property, copyright does not need to be registered, except for cinematograph films. The application of this general principle varies from country to country.
In South Africa this is covered by the Copyright Act, 1978 and its various amendment acts, and administered by the Companies and Intellectual Property Commission in the Department of Trade and Industry.
Copyright is related to, but not the same as performing rights, which are an aspect of the overarching concepts of intellectual property and copyright.
See further:
https://en.wikipedia.org/wiki/Copyright
https://en.wikipedia.org/wiki/Copyright_law_of_South_Africa
https://www.gov.za/documents/copyright-act-16-apr-2015-0942
Performing Rights
Performing rights are the right to perform music, literary works (plays, poems, etc.) in public. It is part of copyright law and demands payment (royalties) to the creator (composer, lyricist, choreographer, playwright, poet, etc.). In the case of published work, the publisher may share in the royalties paid for performances, according to the contractual agreement between creator and publisher.
In South Africa such rights are handled by two organizations, the Southern African Music Rights Organisation (SAMRO) and the Dramatic, Artistic and Literary Rights Organisation (DALRO).
See also:
http://www.dalro.co.za/index.php/about-us/about-dalro
http://www.samro.org.za/news/articles/performing-rights-unpacked-0
Royalties
A Royalty - or more commonly Royalties - is the term used for the income earned by an author or composer for each copy of his/her book sold or for each public performance of a work, and by a patentee for the use of his/her patent.
The website Investopedia[1] expands on this and usefully defines a Royalty as follows:
"A royalty is a payment to an owner for the ongoing use of their asset or property, such as patents, copyrighted works, franchises, or natural resources. The legal owner of the property, patent, copyrighted work, or franchise receives a royalty payment from licensees or franchisees who wish to make use of it to generate revenue. In most cases, royalties are designed to compensate the owner for the asset's use, and they are legally binding.... The terms of royalty payments are laid out in a license agreement."
Intellectual Property Rights in South Africa
Like the issue of copyright, performing rights in South Africa are covered by the Copyright Act, 1978 and its various amendment acts, and administered by the Companies and Intellectual Property Commission in the Department of Trade and Industry. In South Africa such rights are normally handled by two organizations, the Southern African Music Rights Organisation (SAMRO) and the Dramatic, Artistic and Literary Rights Organisation (DALRO).
For more on these organizations, see the entry on each, and/or consult their websites:
DALRO: http://www.dalro.co.za/index.php/about-us/about-dalro
SAMRO: http://www.samro.org.za/news/articles/performing-rights-unpacked-0
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