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.
A Guarantee is the minimum Royalty Payment that a Licensee is contractually obligated to pay a Licensor over the term of the agreement. Guarantees may be paid one time, quarterly, semi-annually or annually, are nonrefundable and can be credited against future Earned Royalties in the form of an Advance.
RoyaltyZone provides an easy way to enter, monitor, and enforce advances and guarantees. Click on any image below to enlarge it:
Capture and track the guarantee payment schedule. You'll be reminded by email when payments are due.
You'll be prompted to create invoices as payment milestones are reached.
Create and send electronic invoices for Advance or Guarantee payments.
Keep track of all invoice and royalty payments that count towards satisfying the guarantee.
Monitor every credit and debit to the recoupable balance.
Both licensor and licensee are warned if there is an unpaid invoice that affects the recoupable balance on a royalty report.
Click on any of the tutorial links below to learn how you can use RoyaltyZone to enter, monitor, and enforce royalty advances and minimum royalty guarantees:
How do I enter a one time Advance?
How do I enter a non-recoupable minimum Guarantee?
How do I create an invoice for an Advance or Guarantee?
How do I make changes to an Advance or Guarantee via Amend?
How do I view Advance or Guarantee balances?
How do I enter historical Royalties or make a Royalty adjustment?
It's hot in Austin these days. Really hot, with no relief in sight:
The good news? It's too hot for the RZ Dev Team to do anything but write code! So, we've got some cool new features for you:
Automated Withholding Tax and Value Added Tax Calculations
You can now enter a WHT and/or VAT percentage for each of your agreements. RoyaltyZone will make the calculations and adjust the invoice as necessary. View the tutorials: How do I manage Withholding Tax? and How do I manage Value Added Tax? NOTE: once you enter your percentages, email me if you need us to regenerate any of your open invoices to reflect WHT and/or VAT
Unusued Associations Report
Ever wonder if you missed a property or category on a license agreement or participation agreement? Need to pare down your category list? This new report (last link on the Reports page) will export a list of all of your unused rights, across all of your agreements.
Agreement Entry Warnings and Errors
We've added a bunch of error and warning messages that will make it easier to enter complex agreement terms into RoyaltyZone. We even hide the publish button until you fix the issue!
Add Rights – Search Box
There is a new search box on the Property, Territory, and Distribution Method selection page in the Agreement Entry flow. This will make it even easier to find your desired rights from a large list of items. Just enter a keyword, then use the "Select All" link, or check individual rights, to add them to the agreement. Hint: if you need to add all rights, except for a few items, you can "Select All", then use the search box to unselect specific items.
New Recurring Fee: Lump Sum
You can now add a Lump Sum recurring fee (Marketing or Ad Fund) to your license agreements. Lump Sum recurring fees are automatically added to every royalty report and invoice.
Coming Soon: QuickBooks Interface!
We are putting the final touches on a cool new plugin for QuickBooks that will import customers, vendors, items, invoices, and bills from RoyaltyZone at the click of a mouse. Wanna be one of the first to try it out? Shoot me an email!
Stay cool,
Lou Ellman
Chief Royalty Crusader
RoyaltyZone, Inc.
royaltyzone.com
P.S. Please tell your licensing friends about RoyaltyZone. We love referrals!
