Technology transfer best practices include protecting, commercializing and maximizing value from intellectual property rights and assets. Prior to Jan 2011 OTT focused on monitoring high net worth licenses (visible) but not those that generated less income (non-visible). This approach could potentially translate to lost revenue, but the robust technology portfolio and associated revenue generation justifies extensive license compliance monitoring. A monitoring program is good business practice and can potentially mean recapturing lost revenue.
A robust license compliance program involves diligently and routinely tracking licensees'; in order to adhere to license agreement terms. Specifically our compliance program would ensure:
- Proper and timely technology development,
- Proper and timely payment of royalties and fees,
- Fair treatment of licensees,
- Maximizes value and revenue from intellectual property,
- Reduce revenue leakage, and
The goals of the program are a) to assess and reduce revenue leakage due to licensing non-compliance, b) to ensure that licensed technology is being developed and on schedule, and c) to send a clear message to licensees regarding license compliance.
To ensure that OTT meets these goals the current license compliance program requires that all active licenses (both visible and non-visible) are monitored. Specifically the program consists of:
Assess accurate and timely payment of royalties and other fees
- Review all active licenses and records of payments received to ensure all payments (upfront license fees, royalties, license maintenance fees and patent expenses) have been paid.
Assess submission and timeliness of royalty and progress reports
- Review timely submitted progress reports and determine if the licensee is developing the licensed product on schedule.
- Determine if diligence and benchmark requirements have been made or are overdue.
- Determine whether sales of a licensed product are being reported.
- Request & assess royalty/progress reports that were not timely submitted.