By Kevin F. Howley, CPAGray, Gray & Gray, LLP As a forensic accountant specializing in royalty audits for over two decades, I’ve encountered numerous instances where licensees or franchisees fall short of their contractual obligations. While each audit presents unique challenges, certain issues consistently emerge across industries and agreement types. Understanding these common findings can […]
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Regular Royalty Audits Protect Business and Foster Trust Between Franchisors and Franchisees By Kevin F. Howley, CPAGray, Gray & Gray, LLP Table of Contents In the world of franchise licensing, royalty audits play a crucial role in maintaining fair and transparent relationships between franchisors and franchisees. Understanding the intricacies of royalty audits, from the foundations
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By Kevin F. Howley, CPAGray, Gray & Gray, LLP The economic disruption caused by the COVID-19 pandemic has generated a need for many businesses to take a hard look at expenditures in order to carefully guard their cash flow. Unfortunately, some companies that license intellectual property or operate as a franchise may be tempted to
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By Kevin Howley and Alex Montgomery What is one’s intellectual property (IP) worth? That’s an important question for a business or individual who holds a patent, trademark or copyright. Of equal interest is how to guarantee that the owner of the IP is adequately and fully compensated for its use by licensees. That is where
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By Kevin F. HowleyGray, Gray & Gray, LLP If you are a licensor of intellectual property, royalty payments are at the core of the value of your business. Your investment of time, talent and capital is repaid in installments from licensees. They are not sharing in their success, but fulfilling their end of a business
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By Kevin F. Howley, CPAGray, Gray & Gray, LLP Royalty payments from the licensing of intellectual property can be a significant source of revenue for a business. But not all licensees keep up to date with their royalty payments, and others may pay a lower amount than required by their agreement. Which is why a
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