Royalties are those monies paid to an inventor, discoverer, or creator of some form of property that is unique and beneficial to some portion of the public. The owner of the idea or discovery is called the "licensor" and the user or seller of the asset is called the "licensee." A royalties lawyer is an important part of the agreements or contracts written to ensure that the licensor receives the proper amount of royalties from the licensee(s) of that asset. Royalty contracts can be paid on assets that are under patent, know-how, trademark, or copyright legal protection. A royalties lawyer helps licensors obtain appropriate contracts with licensees to ensure they receive the compensation that they deserve for the asset and that their rights to their asset are protected.