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Royalty Audit/Compliance Services Program
The Tax Accounting Group's Royalty Audit/Compliance Services Program (RACS) is designed to assist a licensor in determining the amount of any unpaid royalty and licensing fees, reclaiming those fees and preventing future losses. In the event that the resolution of your intellectual property matter requires legal intervention or litigation, we can seamlessly become part of the intellectual property protection team, protecting rights and pursuing enforced collection.
By understanding and analyzing your intellectual property rights as well as the obligations of the licensing agreement, a customized methodology is developed to uncover deviations from the agreement in question, which may result in additional compensation to the licensor. Whether it's a patent, copyright or trademark, our RACS program supports a wide variety of industries and specialties. Our practitioners, for example:
- Review license agreement(s)
- Examine the financial records of the licensee
- Evaluate internal controls surrounding the calculation of royalty payments
- Calculate underpaid and unpaid royalty revenue and additions, including interest as applicable, under one or more approaches
- Assist in recovery, including settlement modeling
- Assist in fee reclamation
- Consult with respect to future loss prevention
- Integrate seamlessly with your intellectual property protection team
For More Information
For additional information, please contact Michael A. Gillen, CPA, CFE, Director of the Tax Accounting Group.