Shuttleworth & Ingersoll Hosts Licensing Executive Society (LES) Seminar
April 30, 2019
The Iowa Chapter of the Licensing Executive Society (LES) met for a seminar at Shuttleworth & Ingersoll’s office in Coralville, Iowa, on April 29, 2019, to discuss valuing intellectual property for licenses and conducting royalty audits. The event was co-sponsored by Shuttleworth & Ingersoll and the University of Iowa Research Foundation and managed by Jason R. Sytsma, registered patent attorney at Shuttleworth & Ingersoll.Featured presenters were Alex Brandon, ASA, a senior manager in Sikich’s forensic and valuation services practice, and Shawn Fox, CPA, ABV, CFA, ASA, the national managing director of Sikich’s forensic and valuation services practice.Brandon’s presentation was titled “Valuing Intellectual Property” and covered: Types of IP – patented & unpatented tech, copyrights and content, franchise agreements, licenses, brands, software, trade secrets, IPR&DPurpose and valuation standards – tax, financial reporting, dispute, restructuring, spin-offsValuation methodology – cost, income, marketCase study – identification, selection of methodology, research, modeling, reportingFox’s presentation was titled “Key Considerations in Forensic Royalty Audit” and covered: When should you consider having a forensic royalty auditBenefits of forensic royalty auditReturn on investment of forensic royalty auditAnalysis of the compliance of the licensee with the key terms of the license agreementIdentify underreported royalties by licensees for when the royalty payment is structured on a $ per unit, as a percentage of gross revenue, as a percentage of net revenue, as a percentage of cost savings, as a percentage of first costs, as a percentage of gross profit, as a percentage of other profit figuresGAAP versus non-GAAP accounting standardsAbout the Iowa Chapter of the Licensing Executive SocietyThe Iowa Chapter of the Licensing Executive Society is one of over 35 LES Chapters in LES (USA & Canada), Inc. LES Chapters are located throughout the USA and Canada in regions with concentrations of LES members and licensing professionals. The Iowa Chapter, under the direction of the Chapter Leadership, hold regular meetings throughout the state. LES members and other expert speakers present topics relevant to technology transfer and licensing. More information is available at www.lesusacanada.org. About Shuttleworth & IngersollShuttleworth & Ingersoll, P.L.C. is a multi-specialty law firm with offices in Cedar Rapids, Iowa, and Coralville, Iowa, with clients throughout the Midwest and around the world. Established in 1854, the firm has grown to become one of Iowa’s largest firms with nearly 50 talented and experienced lawyers who provide a full-range of business, litigation, family, and intellectual property legal services. Using a collaborative, team-based approach, Shuttleworth & Ingersoll is able to provide innovative, cost-effective solutions to client problems.