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The material presented is provided as an outline to areas which have been concerns and/or have been interpretative issues during licensing inspections (typically referred to as a licensing royalty audit). In addressing the matters in this presentation a licensor assists its auditors in identifying material underpayments or other matters of concern within a licensing agreement.

The Licensing industry has changed significantly with changes in distribution models, the economy and general accounting practices. These changes have affected the way revenues/receipts are collected and royalties are disbursed.

This course is designed for the legal and business representatives of rights holders in the Licensing industry. 

Learning Objectives

  • Identify certain provisions in a licensing agreement which affect both the royalty reporting and subsequent audit or inspection.
  • Define common terms that are used in a licensing agreement
  • Recognize whether a licensing agreement grants the licensors auditors access to necessary financial and accounting systems and reports.
  • Describe the support documentation for a variety of transaction types.
  • Identify possible language modifications to reduce interpretative disagreements. 
Last updated/reviewed: November 16, 2017

2 Reviews (9 ratings)Reviews

4
Member's Profile
Lots of good details...a bit slow at times on content but that might be impatient me talking. Some clients must have been burnt on occasion to include this level of detail/understanding of the licensee operations by the licensor, but I am sure this level is warranted where the licenses is either not competent (systems) or dishonest.
3
Anonymous Author
Rather dry, but informative, from a Licensor perspective.

Prerequisites

Course Complexity: Advanced

Prerequisite: Experience in licensing

 

Advanced Preparation:None

 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  10:21Record Keeping Provision and Reimbursement of Fees/Costs
Definition of Terms
  7:10Net Sales, Discounts, and Allowances
  10:24Payment Terms, Lic Terms, Royalties, Sublease Agreements and more.
Licensee Business Practices
  5:07Licensee Business Practices: Accounting
  6:26Licensee Business Practices: Manufacturing Purchasing, and Sales
Continuous Play
  46:52Financial and Accounting Contract Considerations for Licensing Agreements
SUPPORTING MATERIALS
  PDFSlides: Financial and Accounting Contract Considerations for Licensing Agreements
  PDFFinancial and Accounting Contract Considerations for Licensing Agreements Glossary/Index
  PDFILLUSTRATIVE EXAMPLES
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM