investment option for most? While the trend is growing, some consider intellectual bonds risky because royalties earned from publishing and record sales, performances, and radio and/or video airplay can fluctuate. Investment representative Donald Samuel of the Culver City, California, branch of the brokerage firm Edward Jones finds intellectual bonds "very speculative. It’s a new territory, with lots of unanswered questions. What happens if someone defaults? Who owns the material?" While such investments may be suitable for institutional investors, for the moment they’re unproven for individual investors, says Samuel. "It’s good for people in the higher echelons of their industry. But unless you’re Aretha Franklin, Steven Spielberg or John Grisham, [intellectual] bonds aren’t necessarily the best option."