What is royalty income?

Royalty income refers to the income obtained by individuals from providing franchise rights such as patents, trademarks, copyrights and non-patented technologies. The patent right mentioned in the preceding paragraph refers to the right granted by the patent registration institution to the inventor or holder to exclusively create, use and transfer the technological invention within a certain period of time; Trademark right refers to the right to use specific words, names and designs for the purpose of identifying a certain commodity; Copyright refers to the right of the creators of books, artistic works and audio-visual products and their authorized publishers to make, publish and distribute the above-mentioned works and copies (excluding the income from remuneration); The so-called non-patented technology refers to all technical knowledge, experience and skills or their combinations needed to produce a certain product or a certain process technology, including various design materials, drawings, data, technological processes, formulas, etc. The income obtained by individuals from transferring these rights is the income from royalties.