The International Copyright Law, passed by Congress in 1890, required publishers to pay royalties to foreign authors. Selling at less than five cents a copy, the paperback industry was doomed until the arrival of pulp paper.
In 1997 musician David Bowie sold asset-backed securities, called "Bowie bonds", which awarded investors a share in his future royalties for 10 years. They were bought for $55 million!
In 1997 musician David Bowie sold asset-backed securities, called "Bowie bonds", which awarded investors a share in his future royalties for 10 years. They were bought for $55 million!