University IP agreements are complex, routinely requiring audits to ensure compliance. Studies have repeatedly shown that more than three quarters of royalty payments made by licensees are based on reports that contain errors, misinterpretations, or omissions. That amounts to billions of dollars being lost annually by licensors. When compliance is in question, the level of resolution and satisfaction you receive depends upon the thoroughness of the drafted financial, monitoring and auditing terms.
That’s why Technology Transfer Tactics’ Distance Learning Division has teamed up with a world-class royalty audit expert to lead this one-hour webinar that will teach you how to ensure full compliance and full payment when receiving self-reported royalty information from licensees. Join us for this critical program:
Drafting Iron-Clad Royalty Audit Terms and
Conditions for University IP Licenses
Strengthening the audit-related terms in your license agreements can help ensure licensees report and pay the full royalties due, and provide the protection you need to avoid underpayments, re-interpretations, and even costly litigation. But too many agreements use standard and weak audit language, leaving you with little leverage and potentially lost revenues.
Royalty audit expert Matthew Hurewitz will share his best practices and experience with audit terms in this detailed, practical webinar. Here’ a brief look at what he’ll cover:
- Assessing and improving your current contract language with an eye toward potential future disputes
- Including reasonable penalties if the contract is violated
- Specific licensee documents your must have the right to audit
- Routine audits versus “red flag” audits
- Circumstances under which licensee should bear audit costs
- Common mistakes in language and terms that can lead to disputes
Meet your webinar presenter
Matthew A. Hurewitz, CPA
The firm’s primary services are in royalty audits and litigation support. They represent royalty recipients and analyze a licensee’s books and records to uncover unpaid royalties due and to identify other instances of contract non-compliance. With over 30 years of experience, sophisticated computer analytical skills and access to an international network of auditors, they are able to yield reliable, timely and cost-effective results that exceed clients’ expectations.