Licensing revenue
Contracted licence fees.
What this instrument is
Read off the asset template the product uses to structure one of these, not written separately for the website.
| Fungibility | fungible |
|---|---|
| Income | Produces periodic income, so a distribution cycle applies. |
| Maturity | Open-ended, with no scheduled end. |
| Physical custody | Not required; the claim is documentary. |
| Proof of reserve | Not required, as there is no specific physical backing to attest to. |
| Independent valuation | Required — there is no continuous market price to rely on. |
Token model
Derived from what the instrument is — whether it is fungible, whether it is fractionalised, whether transfers depend on the recipient, whether it accrues rather than pays, and whether units come in batches.
ERC-3643. Transfers depend on who the recipient is. ERC-3643 pairs the token with an identity registry and a compliance module, so an ineligible transfer is rejected by the contract itself rather than only by policy.
Alternatives considered
| Standard | When it is the better choice |
|---|---|
| ERC-7943 | A newer permissioned standard. Consider it where its tooling and audit coverage are sufficient for your deployment; verify support on your target chain first. |
| ERC-4626 | If the instrument is a yield-bearing vault, wrap the restricted token rather than replacing it. |
What must exist before it can be offered
Readiness is derived from what has actually been recorded against the asset. These are the requirements this class carries.
Parties
- Asset owner — required.
- Issuer — required.
- Legal counsel — required.
- Servicer — required.
- Valuation provider — required.
- Auditor — recommended.
- Administrator — recommended.
Documents
- Ownership evidence — required and must be current.
- Legal opinion — required and must be current.
- Offering memorandum — required and must be current.
- Subscription agreement — required and must be current.
- Investor disclosures — required and must be current.
- Contracts — required and must be current.
- Valuation — required and must be current.
- Audit — recommended.
- Financial statements — recommended.
- Servicing report — recommended.
- Tax documents — recommended.
Legal structures commonly used
Presented as options for counsel to choose between, never applied automatically: Special purpose vehicle, Revenue-sharing contract, Beneficial interest, Company shares.
What is distinctive about intellectual property
The shape of the claim
The underlying is a contractual right to be paid, collected by intermediaries, and it expires. Copyright and patent terms are finite, so the income has an end date that must be disclosed.
Servicing burden
Administrative. Chasing payers, auditing statements, registering works and renewing filings — under-administered catalogues lose income quietly.
Principal risk
Income decay and title defects. Historical income is a poor guide to future income, and a disputed chain of title can remove the stream entirely.
Liquidity, realistically
Valued on a multiple of trailing income, which is a convention rather than a market price.
Structure a licensing revenue.
Launch Studio will not let this asset reach an offering without the parties and documents listed above.