Royalty & License Compliance
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
- Consultation on litigation and settlement of claims for underpaid or unpaid royalties
- Facilitating additional licensing opportunities
- Identification of likely potential licensees, utilizing analytical tools
- 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