This CLE webinar will guide IP counsel on conducting license compliance reviews and audits. The panel will examine the underreporting of royalties, compliance with other provisions of the license, language to include in a license, and lessons from recent court decisions. The panel will also discuss special considerations for patent, trademark, trade secret, and copyright licenses and will address compliance issues after termination of license.
As companies manage numerous licenses for patents, trademarks, copyrights, and trade secrets, licensees and licensors must remain compliant with the terms of the license. Without a regular and effective review program in place, compliance by both a licensee and a licensor may fall by the wayside, which may result in the loss of millions of dollars and significant IP rights.
Licensors are losing money because over 50 percent of licensees underreport royalties by six percent or more, and 20 percent of licensees underreport royalties by 100 percent or more per a recent survey. Conversely, licensees may be paying more royalties than required under the license. These situations occur for various reasons that a compliance review and audit can identify. During the compliance review and audit, companies will confirm the proper payment of royalties and compliance with other terms of the license.
Listen as our authoritative panel of IP attorneys addresses why it is important to conduct compliance reviews and audits as well as the review and audit process. The panel will examine the underreporting of royalties, language to include in a license, and what can be learned from recent court decisions. The panel will also discuss special considerations for each type of license: patent, trademark, trade secret, and copyright licenses. In addition, the webinar will address compliance issues after termination of license.
