What is event-based license settlement in SAP CRM-IM-IPM - Intellectual Property Management?

SAP Term: event-based license settlement

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: Event-based license settlement is a procedure that is used to perform billing for one or more billing-relevant license settlement items on the basis of a milestone or an event.

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• Key Concepts: 
  Event-based license settlement is a feature of SAP CRM-IM-IPM Intellectual Property Management that allows users to settle licenses based on events. This means that users can set up a license agreement that will be triggered when certain events occur, such as when a customer purchases a product or service. The license agreement will then be automatically settled, allowing the user to track and manage their licenses more efficiently. 
  
  How to use it: 
  To use event-based license settlement, users must first set up the license agreement in SAP CRM-IM-IPM Intellectual Property Management. This includes defining the terms of the agreement, such as the duration of the license and any associated fees. Once the agreement is set up, users can then configure the system to trigger the license settlement when certain events occur. For example, if a customer purchases a product or service, the system can be configured to automatically settle the associated license agreement. 
  
  Tips & Tricks: 
  When setting up an event-based license settlement in SAP CRM-IM-IPM Intellectual Property Management, it is important to ensure that all of the terms of the agreement are clearly defined. This will help ensure that the system is able to accurately trigger and settle the license agreement when necessary. Additionally, it is important to regularly review and update any existing license agreements to ensure that they are still valid and up-to-date. 
  
  Related Information: 
  For more information about event-based license settlement in SAP CRM-IM-IPM Intellectual Property Management, please refer to the official SAP documentation at https://help.sap.com/viewer/product/CRM_IPM/7.0/en-US.