Benefits of copyright to its owner
Copyright is a property right. That is expressly provided in the Copyright Ordinance.
It is just like any other real property or chattels that one may own. A copyright owner must decide how to exploit his copyright work and how to enforce his copyright. He can decide whether or not there will be any use of the copyright work falling within the scope of the economic rights and, if so, whether he or she will use the copyright work and/or license one or more other people to use the work.
A copyright owner can also benefit from copyright by selling or agreeing a transfer of copyright to someone else. This is called assignment.
Many of the options available to a copyright owner will involve contractual agreements which may be just as important as the rights provided by copyright law. The right contractual agreement can minimise the chances of a dispute over use of the copyright work. This is called licence. Licence is limited in scope (e.g. book version), duration (e.g. 3 years) and territory (e.g. Asia). A licence can be exclusive or non-exclusive although in most cases, it is exclusive within a limited scope.
A copyright owner may have his copyright assigned to another person or corporation in return for a price and royalties.