What is outgoing royalties in SAP CRM-IM-IPM - Intellectual Property Management?

SAP Term: outgoing royalties

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: IPM: Payments that are made to a rights owner or licensor as a share of the revenues obtained from the management of an IP right. This share can be defined on the basis of license revenues from license sales contracts with licensees third parties. It can also be defined from other exploitation of rights transferred by the licensor e.g. by product sales of media or merchandizing products. License revenues from license sales can be a flat-rate license fee or a quantity-dependent fee on the basis of the quantities and values from rights exploitation as confirmed by the licensee. The system usually only takes account of actual payments received from a licensee as the basis for calculating outgoing royalties.

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• Key Concepts: 
  Outgoing royalties are payments made to third parties for the use of their intellectual property. This is a component of SAP's CRM-IM-IPM Intellectual Property Management module. This module helps companies manage their intellectual property rights and obligations, including the payment of royalties. 
  
  How to use it: 
  The CRM-IM-IPM Intellectual Property Management module allows companies to track and manage their intellectual property rights and obligations. This includes tracking the payment of royalties to third parties. Companies can use this module to set up royalty agreements, track payments, and ensure that all payments are made on time. 
  
  Tips & Tricks: 
  It is important to keep accurate records of all royalty payments. This will help ensure that all payments are made on time and that all obligations are met. Additionally, it is important to review royalty agreements regularly to ensure that they are up-to-date and in compliance with applicable laws and regulations. 
  
  Related Information: 
  For more information about SAP's CRM-IM-IPM Intellectual Property Management module, please visit the SAP website at https://www.sap.com/products/crm-im-ipm.html. Additionally, you can find more information about intellectual property rights and obligations at the World Intellectual Property Organization website at https://www.wipo.int/.