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Profit From Your Idea: How to Make Smart Licensing Deals by Attorney Richard Stim

Profit From Your Idea: How to Make Smart Licensing Deals by Attorney Richard Stim

Author:Attorney Richard Stim [Stim, Attorney Richard]
Language: eng
Format: mobi
Publisher: NOLO
Published: 2010-12-15T14:00:00+00:00


Lump sum payments. Instead of receiving royalties, a licensor may prefer a onetime or lump sum payment for transfer of licensing rights.

EXAMPLE:

The licensor receives a lump sum payment of $100,000. In return, the licensee has the exclusive right to sell the invention for five years. The licensor gets no other payments or royalties regardless of whether the invention sells millions of units.

Minimum annual royalty payments.

(Sometimes referred to as guaranteed minimum annual royalty or GMAR.) A guarantee that you will receive a certain royalty payment each year. Think of a minimum annual payment as an advance that is paid every year of the agreement.



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