What is outright sale in SAP CRM-IM-IPM - Intellectual Property Management?

SAP Term: outright sale

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: This type of contract stipulates that a licensee acquires all rights to an IP from the licensor. This contract is not therefore restricted to the granting of specific rights in specific countries, but applies globally to a specific IP.

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• Key Concepts: 
  Outright sale is a type of transaction in SAP CRM-IM-IPM Intellectual Property Management (IPM) that allows a company to sell its intellectual property (IP) rights to another party. This type of transaction is used when a company wants to transfer ownership of its IP rights to another party, such as a customer or partner. The outright sale transaction is typically used when the company does not want to retain any rights or control over the IP. 
  
  How to use it: 
  In order to use the outright sale transaction in SAP CRM-IM-IPM Intellectual Property Management, the company must first create an IP contract. This contract will specify the terms of the sale, including the price, payment terms, and any other conditions that must be met. Once the contract is created, the company can then initiate the outright sale transaction. This will transfer ownership of the IP rights from the company to the other party. 
  
  Tips & Tricks: 
  When creating an IP contract for an outright sale transaction, it is important to ensure that all terms are clearly defined and agreed upon by both parties. Additionally, it is important to ensure that all necessary documents are included in the contract, such as a non-disclosure agreement or license agreement. 
  
  Related Information: 
  For more information on using SAP CRM-IM-IPM Intellectual Property Management for outright sales transactions, please refer to SAP’s official documentation on the topic. Additionally, there are many online resources available that provide detailed information on how to use this feature in SAP CRM-IM-IPM Intellectual Property Management.