You can monetize your copyright in primarily four ways:
- Selling the copyrighted goods – if you have a copyright on a book, you can sell copies of the book.
- Licensing the copyright – if the copyright is on a photograph, you can license others to use your copyrighted photograph for a fee. Stock photo agencies are an intermediary that can assist with licensing your photographs to others.
- Selling your copyright – if you don’t want to worry about constantly finding and negotiating with licensees, you can seek a buyer to pay a one-time fee for the copyright, but get the entire copyright and right to sell goods or further license the work.
- Asserting your copyright – if you know of one or more people who are infringing your copyright – using it without permission or excuse – you can sue or threaten to sue them. Often this results in licensing agreements with the alleged infringers.
If you’d like to learn more about any of these options, let us know.