Royalty Distribution Module

The Royalty Distribution Module handles all the Royalty related tasks for an IP, allowing users to:

Activate Royalty
Pay Royalty
Collect Revenue
Deploy Royalty Tokens and Royalty Vaults through factory contracts.
Royalty Calculation
Royalty Distribution

Activate Royalty

The activateRoyalty function is designed to turn on royalty payments for intellectual property (IP) on a blockchain platform. It works for both collections (groups of IP) and individual assets. Here's what it does:

Checks Eligibility: It confirms that the IP is allowed to have royalties and isn't disabled.
Activates Royalties for Collections:
- If the IP is part of a collection, it ensures the collection's license allows royalties.
- Creates a "royalty vault," a digital account to manage royalty tokens.
- Issues royalty tokens to the owner and marks royalties as active for the collection.
Activates Royalties for Individual Assets:
- If the IP is a standalone asset, it checks the license and, for linked assets, confirms that the parent asset's royalties are active.
- Creates a royalty vault, issues tokens, and activates royalties for the asset.

Pay Royalty

The payRoyalty function facilitates the payment of royalties for intellectual property (IP) on a blockchain platform. It ensures that payments are made securely, fairly, and according to the licensing agreements. Here's how it works:

Eligibility Checks:
- Ensures that the IP and royalties are active and not disabled.
- Verifies the royalty setup for the IP.
Royalty Payment for Collections:
- If the IP is part of a collection, the royalty payment is sent directly to the collection's royalty vault.
- A snapshot of the payment is created to record the transaction, and an event is emitted.
Royalty Payment for Individual Assets:
- Determines if the IP is a standalone source asset or a derivative (linked to another IP).
- If it is a source asset:
- The full payment is transferred to its royalty vault.
- A snapshot is created for the transaction, and an event is emitted.
- If it is a derivative asset:
- The payment is split between the source IP and the derivative IP based on a predefined royalty percentage.
- Each portion is transferred to the respective royalty vaults.
- Snapshots are created for both transactions, and events are emitted.

Collect Revenue

The collectRevenue function allows individuals to claim their share of royalty revenue generated from intellectual property (IP) on a blockchain platform. Here's how it works:

Validation Checks:
- Ensures the IP is active and not disabled.
- Verifies that the IP is registered and has a royalty vault set up.
Claiming Revenue for Individual Assets: If the IP is a standalone asset, the function: Confirms that a royalty vault exists for the asset. Allows the caller to claim their share of revenue based on the specified snapshot ID (a recorded revenue distribution point). Records and emits an event confirming the claim.
Claiming Revenue for Collections: If the IP is part of a collection, the function: Confirms that a royalty vault exists for the collection. Allows the caller to claim their revenue share using the snapshot ID. Records and emits an event confirming the claim.

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Last updated 3 months ago

Activate Royalty

Checks Eligibility: It confirms that the IP is allowed to have royalties and isn't disabled.

Activates Royalties for Collections:

If the IP is part of a collection, it ensures the collection's license allows royalties.
Creates a "royalty vault," a digital account to manage royalty tokens.
Issues royalty tokens to the owner and marks royalties as active for the collection.

Activates Royalties for Individual Assets:

If the IP is a standalone asset, it checks the license and, for linked assets, confirms that the parent asset's royalties are active.
Creates a royalty vault, issues tokens, and activates royalties for the asset.

Pay Royalty

Eligibility Checks:

Ensures that the IP and royalties are active and not disabled.
Verifies the royalty setup for the IP.

Royalty Payment for Collections:

If the IP is part of a collection, the royalty payment is sent directly to the collection's royalty vault.
A snapshot of the payment is created to record the transaction, and an event is emitted.

Royalty Payment for Individual Assets:

Determines if the IP is a standalone source asset or a derivative (linked to another IP).
If it is a source asset:
The full payment is transferred to its royalty vault.
A snapshot is created for the transaction, and an event is emitted.
If it is a derivative asset:
The payment is split between the source IP and the derivative IP based on a predefined royalty percentage.
Each portion is transferred to the respective royalty vaults.
Snapshots are created for both transactions, and events are emitted.

Collect Revenue

The collectRevenue function allows individuals to claim their share of royalty revenue generated from intellectual property (IP) on a blockchain platform. Here's how it works:

Validation Checks:

Ensures the IP is active and not disabled.
Verifies that the IP is registered and has a royalty vault set up.

Claiming Revenue for Individual Assets: If the IP is a standalone asset, the function: Confirms that a royalty vault exists for the asset. Allows the caller to claim their share of revenue based on the specified snapshot ID (a recorded revenue distribution point). Records and emits an event confirming the claim.

Claiming Revenue for Collections: If the IP is part of a collection, the function: Confirms that a royalty vault exists for the collection. Allows the caller to claim their revenue share using the snapshot ID. Records and emits an event confirming the claim.