The complex processes involved with obtaining, selling and accounting for Intellectual Property have become more complicated in the digital age:
- Rights Acquisition - The process of acquiring the rights to usage of another's intellectual property is a complex process; governed by contracts, industry practices and statutory regulations. Recording exactly what rights you have been granted, tracking usage and ensuring compliance are processes essential to avoiding claims and potential litigations.
- Rights Marketing and Permissions Granting - The process of selling rights to third parties provides organizations with a secondary source of income, outside of traditional sales. Understanding which customers might purchase a particular product and then tracking the sales process from interest to submission to option to sale can be an onerous task. We understand the workflow and can help you create systems and processes that will enable the efficient management of this important function within your business.
- Rights Accounting - By utilizing proper accounting procedures and correspondence management practices you will ensure that all payments due to you and the primary rights holder are received and distributed on a timely basis. An understanding of the marketplace and knowledge of how to put the proper systems and processes in place to ensure compliance is essential for organizations leveraging intellectual property.