IP audits and royalty audits are essential to properly manage your university’s IP portfolio, and to ensure you’re not only pursuing assets with high potential but also addressing existing licensee activity. Making sure your IP is moving forward – and your licensees are meeting their obligations – is a critical function of any well-run TTO.
Regular and systematic review processes and procedures are absolute musts. Without them, you could be losing out on significant revenue opportunities, overlooking litigation risks, missing critical deadlines and filing requirements, and letting significant royalty dollars slip away.
IP and Royalty Audits for Tech Transfer Offices features three strategy-filled sessions that provide a detailed roadmap for assessing your IP portfolio for risks and opportunities, and assessing licensee compliance with development and payment obligations.
Here are some brief details of each program in the collection – click on the titles for more in-depth program and faculty details:
Here is what’s covered in this session:
- Tracking and maintaining regulatory upkeep on your IP assets
- Understanding where your IP strengths and weaknesses are
- Identifying IP for potential bundling and packaging for monetization
- Realizing the value of your portfolio
- Identifying risk areas that could trigger enforcement actions
- Assessing risk of PTAB IPR and other challenges to validity
- Understand what industry and licensees are looking for in high-quality IP assets
- Plus: Receive Offit Kurman’s handy IP Audit Checklist as a bonus
Our expert presenter discusses:
- Communication strategies from the get-go to promote positive relationships with licensees
- Key considerations for drafting the royalty audit clause in the license
- Active monitoring tools designed to invite feedback from licensees
- Understanding the method and source of reporting information
- Identifying warning signs that may prompt an on-site audit
- Choosing the right auditor: In-house or contract with third party firm?
- Common audit findings — and not so common ones
Royalty audit expert Daniel Burns, President of DBA, shares his top 12 signs that should trigger the audit process — as well as the rationale behind them and the critical audit procedures needed to ferret out mistakes and missing dollars, including:
- Royalty reporting is late, incomplete, or sloppy
- Royalty base cannot be clearly determined, or invention is one part of assembly containing multiple components
- Significant selling and/or manufacturing occurs overseas
- Turnover amongst persons who may reinterpret the license agreement
- And many more
With your purchase you receive:
- On-Demand Video access with closed captions to all programs (unlimited viewings for you and your office)
- Access to all of the original program materials including slideshows and handouts for attendees
