What is rights and royalties scope in SAP CRM-IM-IPM - Intellectual Property Management?

SAP Term: rights and royalties scope

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: A set of one or more rights groups pure rights scope and the corresponding data relevant for royalties calculation that is specified in license acquisition contracts and license sales contracts. A rights and royalties scope has a description to describe the corresponding rights.

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• Key Concepts: 
  Rights and Royalties Scope is a component of SAP's Intellectual Property Management (IPM) module. It is used to manage the rights and royalties associated with intellectual property, such as copyrights, trademarks, and patents. It allows users to track and manage the rights and royalties associated with their intellectual property, including the ability to set up royalty agreements, calculate royalties, and track payments.
  
  How to use it: 
  Rights and Royalties Scope can be used to set up royalty agreements between parties. This includes setting up royalty rates, payment terms, and other details related to the agreement. Once the agreement is set up, users can use the component to calculate royalties based on the agreement. They can also track payments made by each party and ensure that all payments are made on time.
  
  Tips & Tricks: 
  When setting up a royalty agreement, it is important to ensure that all details are accurate. This includes making sure that all parties involved in the agreement are properly identified and that all payment terms are clearly stated. Additionally, it is important to keep track of any changes made to the agreement over time so that all parties are aware of any updates.
  
  Related Information: 
  Rights and Royalties Scope is part of SAP's Intellectual Property Management module. Other components of this module include Patent Management, Trademark Management, Copyright Management, and Licensing Management. These components can be used together to manage all aspects of intellectual property management within an organization.