$26 Million Settlement to Hollywood Filmmakers Over Home Video Royalties
The $26 million settlement between Universal City Studios and a class of Hollywood filmmakers has been tentatively approved. The filmmakers believed they had been underpaid based on miscalculated royalties associated with profits from home-video sales.
Unfortunately underpayment of royalties is all too common and many fail to properly manage their agreements. One critical tool against underpayment is a solid audit provision. Whether one is entitled to profit participation, royalties, or any other ongoing stream of payments involving any type of intellectual property, the right to audit and an upfront agreement on what the audit will entail can avoid the need for costly litigation to obtain that to which one is rightfully entitled. This related article contains suggestions for crafting your audit provision.
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Fulcrum is a financial and economics consulting firm specializing in complex litigation, investigation and appraisal issues. We work with clients around the world providing accurate, thoughtful and customized analysis, which we present in a clear and persuasive manner. Our experts possess a broad range of specialties which enable us to serve numerous industries and both large and small companies.
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