Myth: licensing software is difficult and time consuming to implement.
Fact: You can get up and running with RoyaltyZone in less than 30 days! Here’s how:
Step 1: Setup your Account and add Users1. What is your main address and billing address?
2. Who will be your account administrator and primary user?
3. Who else at your company should have access to the system?
4. Should anyone be restricted to view only or edit only access?
5. Should anyone not be permitted to view financial data and results?
6. Are there any 3rd party users (i.e. Agents) that need access only to specified agreements?
7. What currency do you want to use for your account?
2. Setup > Profile > Upload Logo
3. Setup > Users
4. Setup > Currency
Step 2: Setup your Invoices1. What prefix (if any) and starting number do you want to use for invoice auto-numbering?
2. What is the default number of days that your invoices are due?
3. Do you need to setup multiple sets of payment instructions?
4. What payment methods do you accept?
5. Do you want to accept payments via credit card or ACH bank transfers? (merchant fees apply)
6. Do you want to send past due reminders to licenses every 5 days?
Where do I do this? 1. Setup > Invoices
Step 3: Configure your Royalty Reporting Rules1. Do all of your licensees follow the same reporting schedule?
2. When are licensees required to submit reports?
3. How do you calculate net sales?
4. What deductions are allowed?
5. Do you allow royalty exemptions?
6. What information is required to be reported by licensees?
Where do I do this? 1. Setup > Royalty Reporting Rules
2. Create a new reporting rule
Step 4: Create your AssociationsAssociations are used to assign rights to an agreement and analyze royalty results. They pertain to your entire licensing program, not a specific agreement. 1. What are your available licensed properties? Do you want to use a single property to define your brand, or individual images across the brand?
2. What are your available licensed categories? Do you want to use hierarchies to define your categories?
3. What are your available licensed territories?
4. What are your available licensed distribution methods?
5. Do you have any of this data in XL or CSV format?
Where do I do this? 1. Manage Properties
2. Manage Categories
3. Manage Territories
4. Manage Distribution Methods
Step 5: Import your Licensee Profiles and ContactsThis step is optional. You can enter a minimal amount of licensee data during the agreement creation process, and your licensees will be prompted to complete the rest of their profile. Skip ahead to Step 6 if you do not wish to import licensee data. 1. Do you have licensee profile data in XL or CSV format?
2. Do you have licensee contact data in XL or CSV format?
3. Do you want to create any custom fields for Licensee profiles?
Where do I do this? 1. Email email@example.com to obtain the licensee upload template
2. Send us your data, and we will import it into your account
Step 6: Configure your License Agreement settings1. Do you want to use auto-numbering for your agreements?
2. What is your default verbiage for Liability Insurance requirements?
3. How should licensees send you their Insurance certificates?
4. Do you use any default verbiage on your Term Sheets?
5. Do you want to create any custom fields for Agreements?
Where do I do this? 1. Setup > Agreements
2. Setup > Liability Insurance
3. Setup > Term Sheets
4. Setup > Custom Fields
Step 7: Setup your Deal Stages and Workflows1. Do you want to track deal stages for new agreements?
2. Do you have a defined list of tasks (workflow) for moving deals through your pipeline?
3. Do you want to use a different workflow for renewals, or any other scenario?
4. Do you want to use an HTML form to capture new leads that auto-populate in RoyaltyZone?
Where do I do this? 1. Setup > Workflows
Step 8: Prepare for License Agreement Data EntryMost Licensors enter their agreement data into RoyaltyZone. On average, users can enter a enter a complex license agreement in only 10 to 15 minutes . It is also possible to import a portion of your agreement data. Agreement terms (royalty rates, advances, guarantees, and fees) can not be imported. 1. How many agreements will you be entering?
2. Do you have the full legal agreement handy for each?
3. Are the key compliance terms highlighted?
4. Are any of your agreement terms available in XL or CSV format?
Where do I do this? 1. If you want to import agreement data, email firstname.lastname@example.org to request the Agreement Data upload template. Otherwise, proceed to Step 9.
Step 9: Enter your License Agreements1. Agreement Description/Details
a. What is your role for this agreement? (Licensor or Licensee)
b. Who is the Licensee? (or Licensor)
c. What is the Agreement name and number?
d. Do you want to assign a workflow to the agreement?
e. Who is the Account Manager for the agreement?
f. What is the agreement start date and end date?
g. What is the first date that you want RoyaltyZone to process royalties for this agreement? (Royalty Start Date)
h. What is the length, in days, of the Sell Off period?
i. What is the desired currency for the agreement?
j. Do you want to enter agreement terms for Late Fees, Liability Insurance Requirements, Exclusivity, Marketing Dates, Marketing Commitment, Licensed Products, Samples, Deduction Caps, and/or Legal Notices?
k. What are the desired payment instructions for each invoice type?
2. Royalty Reporting Rule – which of your reporting rules will govern this agreement?
3. Rights – which of your available licensed properties, categories, territories, and distribution methods does this agreement permit the licensee to use?
4. Terms – what are the royalty rates, advances, guarantees, and fees for the agreement?
5. Do you want to share the agreement with the Licensee to view terms, pay invoices, and report royalties; or manage the agreement in-house?
Where do I do this? 1. Create a New Agreement
2. View the Agreement Entry tutorial
Step 10: Configure your Product Management settings1. Do you want to allow licensees to create and edit products? (This is the default setting)
2. If not, will you be creating and editing products on behalf of licensees?
3. If not, will you interface RoyaltyZone with product approval software?
Where do I do this? 1. Setup > Manage Account to view your current product management setting.
2. Email email@example.com if your account is not configured to use the correct product management option.
Step 11: Setup your Royalty Participations (optional)1. Do you distribute a portion of your royalty revenue to 3rd parties (agents, actors, inventors, etc.)? Where do I do this? 1. Setup > Participations
Step 12: Let’s Process Some Test Data1. What agreement(s) should we use to process a sample royalty report?
2. Do you have sample product data and royalty data in XL format?
Where do I do this? 1. View the Publishing Agreements tutorial
2. View the Managing Invoices tutorial
3. View the Submitting Royalty Reports tutorial
4. View the Reviewing Royalty Reports tutorial
5. View the Managing Royalty Reports tutorial
Go Live!1. What is your target date for publishing agreements?
2. What is your target reporting period (i.e. Q1) for processing royalty reports?
Where do I do this? 1. Send the RoyaltyZone Welcome Kit to your licensees
2. Click the Agreements tab to view, edit, and publish your License Agreements