What is the iemoto system?

In the world of traditional Japanese arts such as tea ceremony, flower arrangement, incense ceremony, and traditional music, the iemoto is a person who consolidates his or her particular school by transmitting the correct methods of that school.
The rank of iemoto is usually passed on by direct inheritance.
The iemoto has great authority, Licenses issued by the iemoto are necessary in order to teach such arts as the tea ceremony and flower arrangement and it is the iemoto who has the sole authority to grant these licenses.
Licenses are usually graded according to rank, and every time a higher rank is granted, a licensing fee must be paid.
The highest ranks in some cases require of several million yen.