Common use of College Income Collection and Distribution Clause in Contracts

College Income Collection and Distribution. In order to minimize bookkeeping questions or accounting problems or both, the Vice President for Business and Finance will be the collection agent for the creator(s) and the College of all income for all intellectual properties to which the College retains ownership rights. Promptly following receipt of income, the Vice President (or his or her designee) will disburse it according to the income shares negotiated under provisions of this agreement. This arrangement will free the creator(s) of paying taxes on the portion of income belonging to the College. The creator(s) shall have the rights to full disclosure on all aspects of accounting relating to income from a work-made- for-hire, including but not limited to a right to have an independent audit of the records of income and distribution.

College Income Collection and Distribution. ‌ In order to minimize bookkeeping questions or accounting problems or both, the Vice President for Business and Finance will be the collection agent for the creator(s) and the College of all income for all intellectual properties to which the College retains ownership rights. Promptly following receipt of income, the Vice President (or his or her designee) will disburse it according to the income shares negotiated under provisions of this agreement. This arrangement will free the creator(s) of paying taxes on the portion of income belonging to the College. The creator(s) shall have the rights to full disclosure on all aspects of accounting relating to income from a work-made- for-hire, including but not limited to a right to have an independent audit of the records of income and distribution.

College Income Collection and Distribution. In order to minimize bookkeeping questions or accounting problems or both, the Vice President for Business and Finance will be the collection agent for the creator(s) and the College of all income for all intellectual properties to which the College retains ownership rights. Promptly following receipt of income, the Vice President (or his or her designee) will disburse it according to the income shares negotiated under provisions of this agreement. This arrangement will free the creator(s) of paying taxes on the portion of income belonging to the College. The creator(s) shall have the rights to full disclosure on all aspects of accounting relating to income from a work-made- formade-for- hire, including but not limited to a right to have an independent audit of the records of income and distribution.