Financial Elements of Contracts: Drafting, Monitoring and Compliance Audits

Financial Elements of Contracts: Drafting, Monitoring and Compliance Audits navigates the nuances of drafting financial terms for license and other self-reporting agreements and shows how proper monitoring and auditing should occur once a deal is in place. This book will modernize and remold how agreements are written and will greatly enhance the bottom line of licensors and other contractors. Lawyers involved in drafting license and other self-reporting contracts typically understand boilerplate provisions but not the financial nuances that are subject to high degrees of interpretation that eventually costs their clients significant money and business relationships. Billions of dollars are lost annually and significant litigation results from poorly thought-out critical financial, monitoring and auditing terms. Unfortunately, these shortcomings are generally not discovered until a royalty audit or in litigation, at which point it's often too late to undo the damage, leaving the licensor with no choice but to accept pennies on the dollar or the inability to terminate a poor agreement. Financial Elements of Contracts: Drafting, Monitoring and Compliance Audits helps lawyers and contract administrators avoid such pitfalls and maximize recoupment.