Economic Rights
Type: noun
Pronunciation: /ee-kuh-nom-ik-rights/
Also spelled or known as: Financial Rights
Related: Copyright
What does Economic Rights mean? Legal rights allowing creators or owners to financially benefit from their work.
Economic Rights are copyright rights that allow creators and rightsholders to earn money from the use, sale, reproduction, licensing, performance, or distribution of their creative works.
In music, economic rights may include mechanical royalties, performance royalties, synchronization fees, and master recording income.
These rights can often be licensed, transferred, assigned, or inherited.
Economic Rights synonyms: Financial Rights, Monetary Rights, Commercial Rights
Example sentence: “The songwriter transferred part of their economic rights to the publisher.”