Ocean Tomo’s License Compliance is aimed at improving client revenue streams related to licensing arrangements. During resource allocation, organizations often overlook the importance of monitoring compliance with contractual arrangements, understated revenues linked to licensing arrangements are frequently missed, and license management – the controls and procedures necessary to facilitate accurate royalty reporting – is all but neglected. These disregarded mechanisms are nonetheless vital for both increasing returns on research and design and for enhancing an organization’s shareholder value. As globalization and technological advances create environments where proactive attitudes are necessary, licensing matters have become a growing concern to national and international companies, as well as to universities and research foundations.
Responding to this growing concern, Ocean Tomo License Compliance assists its clients in improving revenue streams by securing compliance with licensing and other business arrangements, creating procedures to manage revenue payments and attract additional licenses. The program is a complete package of strategic license portfolio monitoring and auditing.
Processing of royalty remittance
Monitoring compliance with fiscal obligations of license agreements
Assessment of historical license fiscal compliance and identification of audit opportunities
Commission and finance independent, third party royalty audits
Consultation on litigation and settlement of claims for underpaid or unpaid royalties
Facilitating additional licensing opportunities through a strategic partnership with ICAP Ocean Tomo, LLC
Identification of likely potential licensees, utilizing proprietary analytical tools, including patent relevance metrics provided by the Ocean Tomo Ratings™ system
Maximization of return on investment from licensing of intellectual property
Near-term and ongoing positive impact on financial performance
Improved internal focus on core competencies and strategic opportunities
Enhanced processes and controls to mitigate risk of negligence or breach of fiduciary duty claims
Ensures compliance with internal audit guidelines
No fixed expenditures or initial cash outlays