Technology transfer offices are realizing the importance of a dedicated compliance function in their offices but the challenge is deciding on the best method to set up and initiate an effective compliance function. Then there are the stale licenses that haven't been heard from since they were signed in 2001! The webinar will cover various approaches including practical every day in-office procedures to verifying compliance with license agreement terms and conditions specifically focusing on financial and informational reporting and payments. Learn which agreements to tackle first and how to maximize returns from the compliance program. Discuss various approaches to conducting licensee audits - beginning with desk audits to full on-site royalty audits. Panel members will recount their experiences of using both the internal audit departments at their institutions as well as utilizing third party royalty audit firms. We will compare the costs and benefits of each approach by sharing examples and anecdotes to illustrate the theory, practical tools and techniques employed, assurance provided at each level, and the lessons learned that improve licensee relationships and shape future license negotiations.