Licensing Counsel

Key Challenges

Licensing counsels are continuously under pressure to respond promptly to requests from various business units spread across various geographic regions.

Licensing departments need to establish policies for license compliance and renewals, e.g. limiting the licensed component’s usage to a specific product/project, or tracking shipments in order to accurately calculate royalty payments, while working with limited staff and budget. Increasingly strict regulatory requirements such as those enforced by the SEC, Sarbanes-Oxley (404) and the Basel II Accord have led enterprises to implement frameworks for assessing and improving IT controls and policies, and related reporting.

Unfortunately, most of the departments still deploy manual methods, which are both time consuming and unreliable. Non-compliance with regulatory mandates can result in financial problems, legal issues, or worse. However, to date, most technology companies have not standardized processes for documenting components used in their products and ensured that those components comply with internal IT policies as well as third-party licensing requirements.

Lecorpio Licensing Management for corporate legal advantage

Lecorpio Open Source Management and Licensing Management streamlines the process of monitoring, approving, and tracking open source and paid license software requests, allowing managers to quickly react to developers’ needs while reliably enforcing corporate IP policies.

You can proactively manage and control the introduction of licensed software into your products, and track that throughout the lifecycle. The applications map to your existing processes and establish controls at critical points in the project lifecycle. You can track important milestones, commitments, rights and obligations across the entire licenses repository. Time and event based triggers notify you for any calls-to-action. The inherent flexibility in the system allows for configuring workflows to respond to ever changing compliance regulations.

Click to get more information on Lecorpio Intellectual Property (IP) Asset Management solution.