Passive Income I {Royalties}

 Passive income is my all time favorite source of money.I invest my resources in my quest to enter this bracket.If you are a believer that you don't have to work your entire life time for money,that you can let money work for you while you do what you love most,then this is yours.It is an income received on regular basis with little effort required to maintain.One invests one off energy and the rest is simply maintenance.

My business mentor earns from this bracket.I asked him what he does with his time since at the end of the day money will still enter his account,'I utilize my time thinking hard on how someone will labor hard for me'. He responded,'You know people are all over looking for jobs to do, not entities to start,it's their choice,who am I not to offer them that'. If someone pays you 50k,how much do you think he is making  through you...',he continues.I chuckle but feel bitter.'Sam,think!',he pauses.I'll look foolish as long as I continue walking with him and fail to start up something tailored towards passive income.

Immediately I embark on a long journey of searching the sources of passive income.I will be writing them in series.Today we look at Royalties.

Royalties is the income received for the right to use:
>Literary dramatic,musical or artistic work
>Approved intellectual property/Innovation
They are typically agreed upon as a% of the gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item

Most royalty income earners are usually protected by the intellectual property laws through copyrights(for Music,Books, Softwares),patents,trademarks(like in franchising),industrial design rights and in some cases trade secrets.
Royalty income earners include:
-Books;publishing,reselling
-Music;Production,performance synchronization,reselling,web-streaming
-Softwares
-Franchise,Joint venture,alliances and partnerships
-Artwork
-Extraction of oil,gas,minerals and other non-renewable resources
-Technical services and assistance in technology transfer.
-Movies.

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