What is term deal in SAP CRM-IM-IPM - Intellectual Property Management?

SAP Term: term deal

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: Outline agreement in which the Intellectual Properties IPs or services to be performed are not defined during its creation, but to which specific IPs are first assigned at a later stage. &EXAMPLE& Contract between a film company and an actor to make 2 films in the next 5 years. The actor receives an advance when the term deal is signed. The actor then receives additional royalties that are defined in this contract for each film made. If no films or only one film is made during the five year contract period, the actor retains the full advance.

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• Key Concepts: 
  A term deal is a type of contract in SAP CRM-IM-IPM Intellectual Property Management. It is used to define the terms and conditions of a particular agreement between two parties. This includes the duration of the agreement, the rights and obligations of each party, and any other relevant information. 
  
  How to use it: 
  In order to create a term deal, you must first create a contract in SAP CRM-IM-IPM Intellectual Property Management. Once the contract is created, you can then add a term deal to it. This will allow you to define the terms and conditions of the agreement between the two parties. 
  
  Tips & Tricks: 
  When creating a term deal, it is important to ensure that all relevant information is included. This includes the duration of the agreement, the rights and obligations of each party, and any other relevant information. Additionally, it is important to ensure that all parties involved are in agreement with the terms and conditions of the agreement before signing off on it. 
  
  Related Information: 
  For more information on term deals in SAP CRM-IM-IPM Intellectual Property Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed tutorials on how to create and manage term deals in SAP CRM-IM-IPM Intellectual Property Management.