What is 'royalty' in SAP CRM-IM-IPM - Intellectual Property Management?

royalty - Overview

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: 'Royalties' include both license revenues and outgoing royalties that are produced by the sale or acquisition of licenses. Note: The term 'royalties' is generally used in the SAP interface and the IPM documentation.

royalty - Details

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  Key Concepts: 
  Royalty is a payment made by one party to another for the right to use intellectual property, such as a patent, copyrighted work, or trademark. In SAP CRM-IM-IPM Intellectual Property Management, royalty is used to track and manage payments made for the use of intellectual property. 
  How to Use It: 
  In SAP CRM-IM-IPM Intellectual Property Management, royalty is used to track and manage payments made for the use of intellectual property. This includes tracking payments made for the use of patents, copyrighted works, and trademarks. The system also allows users to set up royalty agreements with other parties and track payments made under those agreements. 
  
  Tips & Tricks: 
  When setting up royalty agreements in SAP CRM-IM-IPM Intellectual Property Management, it is important to ensure that all parties involved are aware of the terms of the agreement. This includes the amount of the royalty payment, when it is due, and any other conditions that may apply. 
  
  Related Information: 
  For more information on royalty payments and how they are managed in SAP CRM-IM-IPM Intellectual Property Management, please refer to the official SAP documentation.