Compliance

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 potentially translated to lost revenue. With an extensive and robust technology portfolio justifies more robust license compliance monitoring. A monitoring program is good business practice and can potentially mean recapturing lost revenue.

A robust license compliance program involves a diligent and routine tracking process that monitors the life of the life of the terms of a license agreement. 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

The goals of the program are a) to reduce errors and and lost revenue, b) to ensure the development of licensed technology is timely, c) to monitor license terms dates, and d) to provide a clear message to licensees regarding license compliance obligations.

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

  • Ensure that all non-royalty revenue has been invoiced and received.
  • Review all active licenses annually to ensure all revenue (upfront license fees, royalties, license maintenance fees and patent expenses) have been received.

Assess submission and timeliness of royalty and progress reports

  • Review all active licenses annually to ensure that all non-revenue reporting has been received.
  • Review 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.