What is a royalty split agreement?

A royalty split agreement is an agreement between the creator of an artwork and the buyer of that artwork that dictates how the money earned from the sale of the artwork will be divided. This agreement is important in the context of art law in Kansas because it allows creators to have some level of control over their work and the profits it generates. Under a typical royalty split agreement, the creator will receive a percentage of profits from any sale. This percentage is usually negotiated by both parties and is based on the value of the artwork, the amount of promotion it received, the reputation of the creator, and other factors. The creator will also typically be entitled to any additional profits generated by the work, such as money earned through licensing or rights sales. A royalty split agreement not only helps creators protect their intellectual property, it also helps ensure that they are fairly compensated for their work. By negotiating a royalty split agreement, buyers can be sure that they’re getting a fair deal and creators can be sure that their work is adequately protected. As such, royalty split agreements are often an important part of art law in Kansas.

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What is a royalty split agreement?

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