A system and method is provided for tracking royalty obligations of a user of intellectual property. The intellectual property can perform program code being sent to a user of a programmable device. The program code is used to configure the programmable device to the functionality of a design owned by an intellectual property vendor. The intellectual property vendor can send an identifier with the code and the programmable device manufacturer can send an embedded code with the shipped, programmable device. The user, when programming the device, will compare the identifier within the code to the embedded code and, if a match results, the user will know that the program contains valuable intellectual property. For each device being programmed with such intellectual property, a computation can occur and the number of thusly programmed devices can be maintained within a resulting royalty payment table. The royalty payment table can be temporarily stored in a host which programs the device at the user site, and can be periodically downloaded across the internet or other means to the device manufacturer, who then forwards the appropriate payments to one or more intellectual property vendors.