The 2012 Invotex annual report on license compliance finds that 89% of licensees misreport royalties to their licensors.
Smart licensors and licensees use RoyaltyZone royalty software to eliminate this problem!
Read the full article here
I spotted this interesting vintage licensed product over the weekend on the bottom of a pile of board games at local bakery/bar Easy Tiger. It’s a “Kreskin’s ESP” board game made in 1967 by Milton Bradley.
The game was remarkably intact, and consisted mostly of a useless pendulum and a deck of playing cards with various colors and shapes. My friends and I tested our ESP skills on the playing cards, and hilarity ensued.
A quick Google search led me to these comments on the game, made by Kreskin himself in 201o:
“Regarding your inquiry about the Kreskin ESP game, yours truly designed the game. As far as the artwork for the box, the Milton Bradley people had their staff do that. At one point, the amount of sales was over a million and it approached two million.
Thank you for your interest about the game. It became a very popular showcase, as I played it with many people on television, including Johnny Carson, Mike Douglas, and Merv Griffin, as the pendulum proved to be a fascinating phenomena.
With all my best thoughts,
Kreskin”
Licensing works, folks!
We love to hear new feature suggestions from our clients! We’ve been hard at work turning your ideas into reality! New for February 2012:
Products Tab
View, edit, filter, and search all of your Licensee’s products from one central location! Click “Export to CSV” to export your filtered search results to Excel. Take a sneak peek
Property Tags
Create and assign Tags to define a group or family of properties. You can then filter royalty results by Tag in any RoyaltyZone report.
How do I use Tags to manage my licensed properties?
Sales Guarantee (Sales Quota)
Designate a Net or Gross Sales target for your licensees and track their progress towards achieving it.
How do I add a Net or Gross Sales Guarantee? (Sales Quota)
How do I manage a Net or Gross Sales Guarantee? (Sales Quota)
Bundle Factor (Bundled Products or Assortments)
Designate products as a “Bundled Product” (SKUs that use multiple properties, either licensed or non-licensed) and then enter the “Bundle Factor” for each property. When sales of bundled products are reported, RoyaltyZone will use the Bundle Factor to prorate quantity sold, net sales, and royalty owed for each property used on the bundled product.
How do I create a Bundled Product?
How does RoyaltyZone calculate royalties for bundled products?
Unapprove Royalty Reports
Admin users are now able to unapprove royalty reports that were previously approved! As a bonus, Licensees can now click a button to request that royalty reports be unapproved (or rejected).
How do I un-approve a Royalty Report?
How do I request that a royalty report be rejected or un-approved? (for licensees)
Marketing Commitment
Do your agreements require that your licensees spend a given amount on advertising and marketing over the life of the agreement? Now you can track the amount to be spent, and licensees can indicate amount spent for marketing over each royalty reporting period, and attach supporting documentation.
How do I add a Marketing Commitment?
How do I track Licensee progress towards satisfying a Marketing Commitment?
How do I record and track progress towards satisfying a Marketing Commitment? (for licensees) New Agreement Fields Invoice Attachments User Interface Enhancements
You can now enter default verbiage for the “Samples”, “Acknowledgment”, and “Addressee” fields for your license agreements. Visit Setup > Agreements to set the defaults for your account.
Attach supporting documentation (in any electronic format) to your invoices. Attachments can be viewed or downloaded by Licensees.
You’ll find new search, sort, and select functions on many popular pages in RZ!
Announcing the RoyaltyZone webinar series. Live webinars every Friday at 11AM CST.
Curious about ways that rights & royalty software can help you manage and grow your licensing business?
Join us for one or more of these FREE one hour live webinars to learn how licensors, agents, and licensees use RoyaltyZone!
Sessions include:
Session 2: How do I increase royalty revenue?
Learn how you can better manage invoices, advances & guarantees, marketing fees, and royalty reporting to eliminate errors and increase royalty revenue!
Session 3: How do I analyze results and measure licensing success?
Learn how to create charts and reports that will help you make better decisions and grow your licensing business.
Session 4: RZ for Licensees
Are you a licensee invited to use RoyaltyZone by your licensor or agent? We’ll show you how to view agreements, pay invoices, manage products, report royalties, and administer users.
Please join me in welcoming Syndi Martin in her new role as Account Manager at RoyaltyZone. Previously, Syndi managed contract and royalty administration at Elvis Presley Enterprises. Syndi is available to help both licensors and licensees get the most value from RoyaltyZone. Syndi can answer your questions about account setup, license agreement entry, royalty reporting, user management, advance/guarantee management, and any other topic!
RoyaltyZone is attending MAGIC in Las Vegas, February 13th to 15th. MAGIC is the preeminent trade event in the international fashion industry, hosting global buyers and sellers of men’s, women’s and children’s apparel, footwear, accessories and sourcing resources.
Are you a Licensor, Agent, or Licensee attending MAGIC? If so, let’s schedule 30 minutes to discuss ways that you can protect your brand, increase royalty revenue, and grow you licensing business.
I attended the Sports Licensing and Tailgate Show in Las Vegas on January 11th, 2012.
Had the opportunity to meet with some fun new people and talk about my favorite topic – better ways to manage royalties and licensing compliance.
I also saw all sorts of cool new licensed products. Here are some of the more obscure items. No judgement, these may be huge hits!
Check em out on the RZ Facebook page:
RoyaltyZone is sporting shiny, new servers with faster CPUs and more memory for 2012. You’ll notice that most pages load almost twice as fast! (Our tests show a 40% average improvement)
Big thanks to Rackspace, our hosting partner, for helping us complete the move over the holidays with minimal downtime. And, as always, huge thanks to our awesome clients, for helping us grow and suggesting fantastic ideas that make RoyaltyZone a valuable and easy to use software tool for managing licensing, rights, and royalties. Keep em coming!
I attended an informative webinar this week entitled “Getting Your Fair Share: How To Prevent Royalty Underpayments” presented by Invotex, Veneble, and Tony Elliot.
At one point, they polled the audience, asking “What kinds of royalty reporting errors are your licensees making?“ Here are the results:
Lou Ellman is headed across the pond to London for Brand Licensing Europe, October 18th thru 20th 2011.
Schedule 30 minutes to chat with Lou at the show about tips to improve your royalty management processes and measure the success of your licensing program.
Subscribe to this site's RSS feed.
