License, Royalty & Revenue Agreements

ebook Drafting, Monitoring and Auditing · License, Royalty & Revenue Agreements

By Sidney Blum

cover image of License, Royalty & Revenue Agreements

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License, Royalty & Revenue Agreements: Drafting, Monitoring and Auditing authored by Sidney Philip Blum, navigates the nuances of drafting financial terms for license and other self-reporting agreements and shows how proper monitoring and auditing should occur once a deal is in place. This book will modernize and remold how agreements are written and will greatly enhance the bottom line of licensors and other contractors. Lawyers involved in drafting license and other self-reporting contracts typically understand boilerplate provisions but not the financial nuances that are subject to high degrees of interpretation that eventually costs their clients significant money and business relationships. Billions of dollars are lost annually and significant litigation results from poorly thought-out critical financial, monitoring and auditing terms. Unfortunately, these shortcomings are generally not discovered until a royalty audit or in litigation, at which point it's often too late to undo the damage, leaving the licensor with no choice but to accept pennies on the dollar or the inability to terminate a poor agreement. Financial Elements of Contracts: Drafting, Monitoring and Compliance Audits helps lawyers and contract administrators avoid such pitfalls and maximize recoupment.

Features

  • Uniquely focused book that provides extremely valuable information about how to properly protect a party receiving self-reported information and identifies the opportunities for reasonable penalties when the contract is violated
  • Written by an expert in third-party auditing with contract compliance experience
  • Aids practitioners with guidance on how to avoid the pitfalls of licensing, from the beginning contracting phase through to monitoring and auditing

    Reviews

    "Blum unites his accounting expertise with a clear understanding of contract law to expose deficiencies in common practices that will cause many readers to rethink their audit and reporting procedures and provisions. This is a valuable resource for intellectual property owners and their advisors who want to ensure they get what they bargain for out of their contracts."

    --Kevin D. DeBré

    Intellectual Property and Technology Transactions Practice Group Chair

    Stubbs Alderton & Markiles, LLP

    "A great peek inside the mind of one of the country's leading strategic auditors. Must-reading for anyone drafting or laboring under a self-reporting contract."

    --Doug Lichtman

    Professor of Law, UCLA

    "Mr. Blum's treatise is the product of 25 years of front-line experience auditing royalty and other contracts for the biggest industry players. He has provided a valuable service to attorneys and accounting professionals by sharing some of his knowledge and insights with the rest of us. Cover your bases. Learn from the expert. Read this book."

    --Pierce O'Donnell

    O'Donnell & Associates, PC

    "Financial Elements of Contracts delivers a thought-provoking, habit-challenging compendium of do's and don'ts for lawyers and business people alike. No matter where you sit on the chessboard of contracts, Sidney Blum's forceful text provides a critical rethinking of contact drafting and enforcement that will change the way you play the game."

    --Lindsay Conner, Partner

    Manatt Phelps & Phillips LLP

    "Blum's background as an accountant in Los Angeles-as well as his prior experience with a big accounting firm, a motion picture studio, and an oil company-amply qualifies him to offer his insights to lawyers engaged in drafting, performance, and litigation...

  • License, Royalty & Revenue Agreements