Royalty and Contract Audits
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INDUSTRY: TELECOMMUNICATIONS |
DESCRIPTION |
AMOUNT UNCOVERED BY AUDIT |
AMOUNT SETTLED / COLLECTED |
1. Telecommunications – uncovered underpaid amounts resulting from: (i) unreported foreign subsidiary sales; (ii) sales of licensed products to companies excluded under erroneous interpretation of agreement; and (iii) unreported products incorporating licensed technology
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> $ 1,800,000 |
> $ 1,500,000 |
2. Japanese Service Provider – uncovered underpaid amounts resulting from: (i) unreported service subscribers and (ii) unreported sublicense of Licensor's technology to foreign companies
|
$ 667,000 |
In Negotiations |
3. Telecommunications – uncovered underpaid amounts resulting from: (i) sales to countries unknown by licensee to be protected by patent; (ii) unreported sales of substantially completed licensed products; and (iii) unreported sales of licensed products
|
> $ 1,500,000 |
> $ 1,100,000 |
4. Telecommunications – uncovered underpaid amounts resulting from: (i) royalty bearing sales of licensed products prior to execution of the agreement
|
> $ 5,000,000 |
> $ 3,000,000 |
5. Telecommunication Parts – uncovered underpaid amounts resulting from: (i) erroneous credit adjustment claimed by licensee on prior royalty report; (ii) failure to report sales of licensed products to and/or by affiliated companies; and (iii) application of erroneous exchange rates
|
$ 1,018,000 |
In Negotiations |
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