GETTING YOUR FAIR SHARE: HOW TO PREVENT ROYALTY UNDERPAYMENTS

Wednesday, June 13

2:30m - 4:00pm

Every year billions of dollars are paid and received in royalty payments. It does not matter the field you are in, royalties are paid for software, patents, trademarks, copyrights, publicity rights, art, sports, pharmaceuticals, technology transfers, music, films…and the list goes on. Our panelists will discuss discuss how you can prevent underpayments and recoup what is owed to you.

MODERATOR:
JOSHUA KAUFMAN
Partner
Venable LLP

Joshua Kaufman (AV® Preeminent™ Ranked) is the head of the firm's Copyright and Licensing Group. He counsels and litigates in the fields of copyright, e-commerce, licensing, art, intellectual property, software, on-line issues, trademark, entertainment, media and literary law. He advises his clients in structuring and negotiating transactions in which they exploit their intellectual property rights or in acquiring them from others.

Mr. Kaufman is a leader in anti-counterfeiting. He has been involved in hundreds of anti-counterfeiting efforts leading to the seizing, destruction or elimination of thousands upon thousands of counterfeited and infringed products. He has represented trademark, copyright and other rights owners in their never ending struggle against the world wide scourge of counterfeiting. Whether it takes a simple "Cease & Desist" letter, filing of a law suit or undertaking actual raids, Mr. Kaufman has been there time and again. Mr. Kaufman prides himself on often being able to make his enforcement activities "profit centers" for his clients. In the interest of balance, he has defended counterfeiters and infringers as well.

Mr. Kaufman was one of the nation's first computer and cyber lawyers. In addition to the law, Mr. Kaufman knows technology. He worked as a computer consultant and, for 10 years, wrote a syndicated column in which he reviewed hardware and software. He is also one of the country's most well-known art lawyers with clients spanning the globe. He represents a wide variety of artists, art publishers, art licensing agents and art licensees. Once again his legal proficiency is augmented by a strong knowledge of the art world as an artist, gallery owner and importer (he was MC Escher's first distributor in the USA).

Mr. Kaufman has a wealth of experience in all forms of licensing including software, trademarks, copyright, sports, art and personalities. He has negotiated hundreds of licenses involving most of the major licensing entities (representing licensee, licensors and agents). He has written numerous articles on licensing for a variety of publications, is a co-author of Licensing for Dummies, a regular contributor to the Licensing Royalty Rate Guide and a frequent speaker at the Licensing Show, Surtex and other trade events.

PANELISTS:

STUART BURNS
Partner, Forensic Accounting
HW Fisher & Co

Stuart is a Partner in the London, England-based accounting firm of HW Fisher & Company, with 27 partners and over 260 staff. Stuart founded Fisher Forensic, the forensic accounting, royalty auditing and intellectual property (IP) division of the firm almost 20 years ago. He is a Certified Fraud Examiner, Member of the Academy of Experts and a Fellow of the Institute of Chartered Accountants in England and Wales. As well as dealing with criminal and civil actions, appearing in Court on a number of occasions as an Expert Witness, the majority of his time is spent in the non-adversarial arena of royalty audit. Hundreds of royalty audits are carried out each year around the world by his large team of highly skilled auditors and across the vast spectrum of IP, including consumer products, content downloads, electronic and hard copy books, film and TV, music, technology and patents. Millions of dollars of hitherto unreported revenues are recovered each year through the medium of audit and well-managed negotiation. With multi-national backgrounds and linguistic skills to match, Stuart’s team are able to deal seamlessly with the cultural diversity they encounter.

Stuart acts for some of the world’s best-selling authors, international fashion houses and luxury car brands, trophy-winning football clubs, as well as an array of ‘Superbrands’, inventors, brand extension and technology companies. The benefit of this experience accrues to the many smaller rights owners for whom he also acts. Whether the IP is exploited though licensing, franchising or some form of joint venture or profit-sharing arrangements, Stuart has found that contract language is paramount. Harnessing years of field experience, Stuart advises IP owners on the drafting of key clauses within their boilerplates, enhancing their robustness, clarity and effectiveness – but, above all, tempered with the commercial awareness that has been honed from being over 30 years in practice.

DEBORA R. STEWART, CPA/CFF
Managing Director/Co-Founder
Invotex Group

Debbie Stewart is a Managing Director and co-founder of Invotex Group and head of the firm’s License Management and Royalty Compliance practice. With more than 25 years experience, her background also includes management responsibilities for an international consulting firm’s intellectual property consulting practice where she managed large engagements in litigation support, forensic accounting and financial investigation services.

Ms. Stewart has worked with corporations, universities and their counsel on intellectual property matters for the majority of her career. She has experience working with a wide range of industries, from computer graphics, pharmaceuticals and biotechnology to consumer goods. Ms. Stewart’s experience includes intellectual property compliance, royalty audits, valuation and licensing consulting as well as reasonable royalty and lost profit damage calculations in patent, trademark and copyright infringement and trade secret matters. Further, she developed a proprietary Royalty Reporting Process to help clients take a proactive approach to managing royalty reporting and revenue. Ms. Stewart has uncovered in excess of $125 million in underpaid royalties for her clients.

Ms. Stewart is a member of the American Institute of Certified Public Accountants (AICPA), Association of University Technology Managers (AUTM), International Licensing Industry Merchandisers’ Association (LIMA), Maryland Association of Certified Public Accountants (MACPA), and the Licensing Executives Society (LES). She has authored several articles and is a frequent speaker on licensing and royalty compliance topics.

ANTHONY CURTIS ELLIOTT
CPA

Anthony Curtis Elliott, a Certified Public Accountant (CPA), performs "royalty audits" for intellectual property rights-holders in the United States and overseas. Elliott conducts a broad range of royalty and profit participation audits, including merchandise license, publishing, home-video distribution, digital platforms and mmo role-playing game developers.

Elliott’s clients range from independent artists and agents to multi-billion dollar entertainment companies and international consortiums. Over the past 17 years, Elliott assisted clients recover millions of dollars worth of unreported-unpaid royalties.