The University of Iowa Trademark Licensing Program is independently managed with all licensee management and royalty collection handled internally.
Standard licensees are required to report royalties on a quarterly basis that follows the calendar year. Each licensee must submit royalties within 30 days of the end of each quarter. These royalty reports must be accompanied by a detailed accounting report that shows all sales and deductions for the respective quarter.
The number used to calculate royalties due to The University of Iowa will be Net Sales. Net Sales can be derived by taking Gross Sales of licensed Iowa products and subtracting any returns, taxes, or any other deductions relevant to the sale of those products. The net of these two numbers is considered the royalty balance due to The University of Iowa. All sales of licensed Iowa products occur at the time of delivery or at the time of billing or invoice, whichever is earlier.
All delinquent amounts not paid may be charged the maximum rate of interest permitted under applicable state law, not to exceed one and one-half percent (1.5%) per month on any portion thereof during which said amounts remain delinquent.
Minimum Royalties per Unit
All t-shirts and sweatshirts produced, distributed, and sold are subject to a Minimum Royalty per Unit (MRU). This MRU only comes into effect once the royalty generated on a sale falls below this threshold. The MRU for t-shirts is 50¢ and the MRU for sweatshirts is $1.00. It is imperative that licensees note MRUs on their royalty reports so that reports are entered accurately. MRUs are added to the royalties due to The University of Iowa on the royalty report.
Reports and Payments
Royalty reports are due within 30 days following the end of each fiscal quarter. The quarter ends are March 31, June 30, September 30, and December 31. All reports may be submitted online at www.uilicensing.com following the steps below.
- Step 1: Login into your uilicensing.com account.
- If you have forgotten your password, please click the forgotten password link (email goes to Licensing contact).
- If that does not work, please give us a call at 319-384-2000.
- Step 2: Go to the reports tab
- Click on the ENTER ROYALTY REPORT HERE link.
- Make sure you are submitting royalties for the correct quarter.
- Step 3: Enter your sales and returns into the lines.
- Please check the NO SALES TO REPORT FOR THIS PERIOD button above the line items, if applicable.
- Enter your sales and returns for each separate type of sale in each line item (i.e. Standard 12% Sales, Old School, Rivalry)
- Step 4: Upload supporting documentation
- Select the CHOOSE FILE button and browse your computer’s files for the document that holds your accounting records. We prefer PDF, Excel, or CSV files.
- Add any additional notes to the report in the space provided.
- Step 5: Enter your name in the REPORT PREPARED BY field.
- Step 6: Select a payment method.
- Step 7: Click the CLICK HERE TO SUBMIT REPORT button at the bottom of the page.
All checks should be made out to The University of Iowa Trademark Licensing Program and sent to the address below.
The University of IowaTrademark Licensing Program310 KHFIowa City, IA 52242
If you wish to make a payment via ACH (Automated Clearing House), please contact our office.
A credit will be given to a licensee for any of the following reasons:
- Payment made in error above the required amount for a specific quarter
- Deductions exceed Gross Sales and create a negative royalty balance
Any and all credits extended to a licensee shall be valid for all subsequent quarters until such a time that the entirety of the credit has been used.
Standard licensees are reviewed following every fiscal quarter. The review process looks at trends of a licensee’s reporting habits and royalty performance. Criteria that could affect a company’s license might include, but are not limited to:
- Contract compliance (i.e. submitting royalty reports late, etc.)
- Low royalty amounts
- Decreasing trend in royalties
The University of Iowa Trademark Licensing Program has different royalty rates for specific types of products as well as the use of specific marks.
“Old School” Collection
Any product that bears any “Old School” Collection mark will be subject to 15% of Net Sales. Please see our “Old School” Collection policy to find out what marks are under our “Old School” Collection as well as how to apply to be considered as a licensee of “Old School” Collection marks.
Multiple Intellectual Property Rights Holders
Any product that carries the intellectual property of The University of Iowa and any other entities shall be charged a unique royalty rate. The royalty rate will reflect the specific rate that has been agreed upon by the intellectual property rights holders. This royalty rate will include what is to be sent to The University of Iowa as well as the additional rights holders (i.e. Iowa versus Iowa State rivalry product may garner a 16% royalty rate with 8% going to The University of Iowa and 8% going to Iowa State University).