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

SAP Term: royalties key

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: Object that consists of the customer-specific royalties dimensions defined and the Intellectual Property being sold.

Smart SAP Assistant

• Key Concepts: 
  The Royalties Key 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 the payment of royalties for intellectual property rights, such as patents, trademarks, and copyrights. The Royalties Key allows users to define royalty rates and payment terms for each intellectual property right, as well as track payments and generate reports.
  
  How to Use It: 
  The Royalties Key can be accessed through the CRM-IM-IPM module in SAP. To use it, users must first define the royalty rates and payment terms for each intellectual property right. Once these have been set up, users can then enter payments and generate reports on the status of royalty payments.
  
  Tips & Tricks: 
  When setting up the Royalties Key, it is important to ensure that all royalty rates and payment terms are accurate and up-to-date. This will help ensure that all payments are tracked correctly and that reports are generated accurately. Additionally, it is important to regularly review the reports generated by the Royalties Key to ensure that all payments are being made on time.
  
  Related Information: 
  The Royalties Key is part of SAP's Intellectual Property Management module, which also includes features such as patent management, trademark management, copyright management, and more. Additionally, the Royalties Key can be integrated with other modules in SAP's CRM suite, such as Sales & Distribution (SD) and Financial Accounting (FI).