Licensee's Duty to Provide Detailed Royalty Transaction Records for Verification

In a dispute regarding royalty payments under an exclusive license agreement, the court held that the licensee has a duty to provide the licensor with a compilation of relevant transactions sufficient to allow for verification of the calculated license fees; a mere statement of account is insufficient. The court found that the licensee violated this obligation by submitting an accounting that failed to detail the invoiced value of goods and exclude ancillary costs as stipulated by the contract, thereby lacking the minimum necessary information for the licensor to verify the 5% net turnover royalty calculation, and further reasoned that a right to inspect underlying business documents, like booking excerpts and invoice duplicates, is presumed even if not explicitly contracted, to ensure the accuracy of the unilaterally provided statement.