To start, royalties have nothing to do with copyright. They are simply an agreement between an author and a publisher. I give you the exclusive right to publish my book, and I get a cut of every sale.
Royalties extend far beyond creative fields. Any deal where someone gets a percentage share of the sale of a product or service on an ongoing basis is a "royalty". E.g. in manufacturing or even software.
To start, royalties have nothing to do with copyright. They are simply an agreement between an author and a publisher. I give you the exclusive right to publish my book, and I get a cut of every sale.
Royalties extend far beyond creative fields. Any deal where someone gets a percentage share of the sale of a product or service on an ongoing basis is a "royalty". E.g. in manufacturing or even software.