1. From any page, click "Create New…" and then "Agreement"
2. Select your role for the agreement
Choose "Licensor" if you receive royalties, and "Licensee" if you pay royalties.
3. Select a Licensee
Enter the company name of the Licensee (Demo) you would like to select and click "Search"
3a. Select Existing Licensee
1. Click "Select" to choose Licensee
2. If you do not see the Licensee you are looking for, click "Search Again" or click "Add New Licensee"
3b. Add New Licensee (if company not found)
Complete the form and click "Create"
4. Enter all relevant details for the Licensee Agreement
There are 10 steps for agreement entry, plus the review/publish page (Step 11).
Step 1 is the Description page, which lets you define all of the important legal terms of your agreement. Any data entered will be viewable by Licensees, and will be included when you export the Term Sheet. Optional fields may be left blank.
Use the drop down menus to select the workflow (optional), dates, account manager (optional), currency, and payment terms for the agreement.
1. Use the Navigation bar to return to a previous agreement entry section
2. Scroll down to view/enter additional items
Tip: the agreement is saved once you click "Next" on this page. Access saved agreements from the "Agreements" page.
5. Select a Royalty Reporting Rule
Step 2 lets you choose a Royalty Reporting Rule for the agreement, which defines when royalty reports are due, how royalties are calculated, and what data is required to be reported. Click "View" to see the reporting rule details and click "Select" to choose a reporting rule for this agreement. You can create a new rule by clicking "Create New Reporting Rule"
6. Define the Agreement Rights
Steps 3 through 6 define the allowable rights for the license agreement. You’ll use the rights you select to create specific agreement terms in Steps 7 through 10.
1. Click "Select Additional Properties"
2. Check "Assign Right" box for each desired property
3. Click "Save"
If necessary, you can add properties to your account by clicking "Upload Properties" or "New Property".
Click "Continue" to proceed. Do the same for Categories, Territories, and Distribution Methods.
If you enter Terms (see below) and then return to add additional rights, you will be prompted to indicate which terms will utiilzie the addittional right(s).
NOTE: Select at least one property, category, territory, and distribution method.
7. Define the Agreement Terms
Steps 7 through 10 let you create the specific terms for the licensee agreement. Use associations to assign the appropriate rights to each term. Add as many Royalty Rates, Advances, Guarantees, One Time Fees, and Recurring Fees as necessary. Skip a section if your agreement does not utilize a particular term. Terms will only be applied to sales transactions reported within its effectivity period. Use Associations to define how multiple terms are applied. Review the Associations Tutorial for specific examples.
8. Review and Publish the Agreement
Review all of the agreement terms for accuracy. Use the navigation bar or "Edit" links to return to a previous agreement entry section. Return to any saved agreement from the Agreements page. When ready, Publish the agreement to invite the Licensee to submit royalty reports, pay invoices, and view agreement terms. If you do not want your Licensee to view or interact with the Agreement, choose “Publish Internally” to manage royalty reports and invoices without involving the Licensee (you can invite them later).