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The California Resale Royalty Act (Civil Code section 986), which went into effect on January 1, 1977, entitles artists to a royalty payment upon the resale of their art if the transaction takes place in California or the seller is based in the state. It was the only law of its kind implemented in the United States.
CCC is a broker of licenses, [5] earning a 15% commission on the fees it collects. [5] The company passes more than 70% of its revenues to publishers in the form of royalty payments to rightholders, and another 30% is kept by the company as a fee for its services. [1]
The rates are higher than the then-existing royalties paid for non-interactive webcasting. One component of rate increase was to remove the cap on the per-station/channel minimum fee of USD $500, which used to be $2,500. [2] The law requires rates to be based on the price that would be set by a marketplace of willing sellers and willing buyers.
If a government entity acquires a patent to a computer software program or component of a program, the data shall be treated as trade secret information under section 13.37. For purposes of subd. 5, "Government entity" means a state agency, statewide system, or political subdivision. [18]
The companies license public performance on a nonexclusive basis of the music they own or hold under contract using a complex weighting formula to distribute the fees to the respective rights holders. [4] The license may be a blanket license, but individual licenses may be negotiated.
Hidden fees are typically used to help a business pose as the most affordable option compared to its competitors.
A 4% royalty on sales value for a 5-year period of the license, together with a lump-sum payment of $32000 (risk-free income) on execution of the license is then the 'asking price' in the example. The TTF of this projection is 2.6, implying that for every dollar of royalty paid, the OP to the licensee enterprise is multiplied by this factor.
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