shankargallery (shankargallery) wrote,
shankargallery
shankargallery

INTERNET LAW - THE ARTIST'S RESALE RIGHT REGULATIONS 2006 (UK)

clipped from www.ibls.com
IBLS INTERNET LAW - NEWS PORTAL
INTERNET LAW - THE ARTIST'S RESALE RIGHT REGULATIONS 2006 (UK)
The Regulations grant artists the right to receive a royalty on any resale of his or her work after the first transfer by the artist of ownership (which does not necessarily have to be the first sale; the initial transfer may be a gift). This right applies to works that are protected by copyright, and lasts for the same length of time as copyright protection (i.e., the lifetime of the artist plus 70 years after the end of the year of the artist's death). The amount of the royalty that is payable is a percentage of the sale price, which is calculated as follows: 4% on the first €50,000 and 3% on the remaining amount, up to a cap of €12,500.
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