What is royalties item in SAP (CRM-IM-IPM - Intellectual Property Management)?

SAP Term: royalties item

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: Item in an IPM contract in which the licenses/royalties to be paid are agreed. Periodic settlement is performed for this item using BRIs billing request items on the basis of the cumulated data.

Smart SAP Assistant

• Key Concepts: 
  Royalties item is a component of SAP's Intellectual Property Management (IPM) module in the Customer Relationship Management (CRM) suite. It is used to manage and track royalty payments for intellectual property rights such as patents, trademarks, copyrights, and other intellectual property assets. 
  
  How to use it: 
  The royalties item component of IPM allows users to set up and manage royalty payment agreements with third parties. It also provides a way to track payments and ensure that all parties are in compliance with the agreement. Additionally, it can be used to generate reports on royalty payments and other related information. 
  
  Tips & Tricks: 
  When setting up a royalty payment agreement, it is important to ensure that all parties are in agreement on the terms of the agreement. Additionally, it is important to keep track of any changes or updates to the agreement over time. 
  
  Related Information: 
  The royalties item component of IPM is closely related to other components such as license management, asset management, and contract management. Additionally, it can be used in conjunction with other SAP modules such as Financial Accounting (FI) and Materials Management (MM).