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Only 18 (out of 200) territories are net exporters of license fees and royalties. This means that a few people living in less than a tenth of the territories in the world between them receive the US$30 billion of net export earnings for these services. The International Monetary Fund explained that royalties and license fees include "international payments and receipts for the authorised use of intangible, non-produced, non-financial assets and proprietary rights ... and with the use, through licensing agreements, of produced originals or prototypes ...". Thus these export earnings are payments for past ideas. |