Discover Unreported Royalties and Enrich Your Bottom Line
What is a Royalty Audit?
A royalty audit verifies whether a Licensee (user of a patent, license or franchise) is complying with the licensing agreement or contract by paying the Licensor the correct amount of fees that were agreed upon in the agreement or contract. It provides quantifiable and supported findings that can aid in the strategic negotiation and collection of unreported royalties.
This audit also identifies areas that are unclear, offering the opportunity to improve terms and conditions in future licenses—as well as developing a more long-term strategic partnership between Licensor and Licensee.
Benefits of a Royalty Audit
- Enhance Return on Investment (ROI), including recovering cash due
- Improve templates to make future agreements clearer and more succinct
- Improve control and deliver better internal analysis of royalty reports
- Reveal differences in interpretation, improving key business partner relationships
- Better protect Intellectual Property (IP) and mitigate risk enterprise-wide
Communicate + Collaborate = Competitive Advantage
A royalty audit helps the Licensor and Licensee better understand each other’s goals,
building a stronger, more beneficial business relationship.
Industries that benefit:
- Biotech/ Pharma
- Technology (Software/Hardware)
ASTUTE’s Royalty License Audit Program
- Cost effective
- Data analysis through automation
- Build robust Royalty/Licensing compliance program
Learn how an ASTUTE Royalty and Compliance Audit® can enrich your bottom line!