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The intent of an audit is to identify any under-reported royalty income. However, our approach maintains trust and enhances the relationship with licensees. We first get the licensee to buy into the process and the need for reporting accuracy. In this manner, we avoid long drawn out settlement disputes with the pre-assumption that any discrepancy will be immediately corrected. InfoPower’s Compliant Audit Service manages your licensee compliance issues by focusing on the licensor and licensee relationship. Not only do we examine the accuracy of reporting, but also recommend how license compliance can be improved when problem issues are discovered. Audit services are affordable because the service is essentially free. Our charges are based upon a percentage of the revenues recovered, the client is only responsible for initial expenses. But, perhaps even more important is the statement that is made by the intellectual property owner or licensing agent. And that is, it is your intention that major licensees (80% generators) maintain compliance and the full measure of revenues due are collected Technology Based AuditsAs the manufacturer of software systems, InfoPower employs the same level of technology in performing licensee audits. Armed with the information reported by the licensee from within our clients' database, InfoPower extracts licensee's invoice information for electronic comparison. This approach speeds up the audit process and is precise in determining the licensees compliance. Underpaid invoices are processed directly through the InfoPower application with automated splits to the licensor as applicable.
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