Challenges
The Massachusetts Institute of Technology (MIT) was looking for a new system to manage tracking, regulatory compliance, licensing, billing, profit measurement, and royalty distribution for their extensive portfolio of patents, software, trademarks and other intellectual property. They wanted to replace an aging Ingres database and two dozen supplementary FileMaker databases with a single integrated application which would interface with the MIT’s accounting system, MIT’s data warehouse, and a patent prosecution system. DLA provided a customized solution.
Our Solution
D. Lawton Associates built a desktop client with many special user interface features, based on a sophisticated, integrated database.
- Forrester is the principal application used by all members of the Technology Licensing Office, from the central office, from remote locations, and from home.
- Data from the application is selectively available to the MIT community.
- Forrester exchanges validated information with SAP, MIT’ s central accounting system.
Key Features
- Users can flexibly navigate among cases, intellectual properties, agreements, encumbrances, material transfer agreements, legal bills and royalty invoices.
- All parties (inventors, sponsors, law firms, attorneys, institutions, licensees, and other contacts) are in a single integrated Rolodex.
- Recurring milestones, ticklers, and compliance actions are calculated and available to licensing officers.
- Calculations of invoices, expense charge backs, interest, royalty distribution and department residuals are table-driven.
- Includes integrated cash receipts, accounts receivable, and reminder letters for licensees.
- Detailed expense tracking is supported, with accounts payable and cost containment features.
- Application & database validation ensure that inconsistencies are prevented.
- Application includes powerful table-driven search, reporting, and word merge capabilities.
- Relevant emails are automatically filed with the appropriate case or agreement.
- Results for MIT
- Improved data integrity.
- Improved ability to store and retrieve intellectual property and licensing information.
- Faster, more reliable billing and royalty distribution process.