Glossary
Royalty audit
Royalty audit: A royalty audit is a licensor's review (typically conducted by an external audit firm) of the licensee's royalty calculations, supporting sales data, and applied deductions for a historical period. Audits commonly turn up underpayments due to stale-master drift, disallowed deductions, or missed cooperative-mark splits.
Licensee agreements with major licensors (CLC, Fanatics College, NFL, MLB) carry audit rights the licensor can exercise — during the term, and sometimes after termination. Audit defense requires recompute history, original statement versions, and per-period audit trail.
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