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Your step-by-step guide — digi sign source code license agreement template
Employing airSlate SignNow’s eSignature any company can increase signature workflows and eSign in real-time, giving a better experience to customers and employees. Use digi-sign Source Code License Agreement Template in a few simple actions. Our mobile-first apps make operating on the run possible, even while off the internet! eSign documents from any place worldwide and close tasks in no time.
Take a walk-through guide for using digi-sign Source Code License Agreement Template:
- Log on to your airSlate SignNow profile.
- Find your record in your folders or import a new one.
- Open up the record adjust using the Tools menu.
- Place fillable boxes, add textual content and eSign it.
- Include multiple signees using their emails and set the signing sequence.
- Choose which individuals will receive an completed doc.
- Use Advanced Options to restrict access to the document and set up an expiration date.
- Click Save and Close when done.
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Digi sign source code license agreement template
I'm back I'm gonna be doing a licensing agreement breakdown of my recently licensed product stay tuned what's up world is a Sef from MFSEF studio where it's all about making ideas happen by licensing them out to companies in exchange for royalties and if you haven't done so already hit that subscribe button and the notification felt next to it so you can get updates on any new videos posted onto the channel and if you're diggin the type of content you're seeing on the channel hit that thumbs up button and you can also write any questions comments or insights that you might have in the comment section down below so I'm finally back it's been a while since I've posted my last video and if this is the first time coming onto this channel or if you haven't seen that last video it's me going over my experience in the process of getting my recent idea signed and licensed so if you haven't checked that out yet I put the link in the description down below for you to check out the video I didn't really go into much of a deep dive of what that licensing agreement was or what the product was so we're gonna take a little bit of a deeper dive in this video but I'm not gonna reveal too much about the licensee and the product itself other than it being a sports merchandising bottle opener in the form of a keychain I want to give the company time to work on the production and get their whole launch strategy and marketing thing done that way I'm not kind of releasing any sensitive information that they haven't finalized on I'm gonna be going over the obvious things that you guys want to know and the first thing is probably royalties how much of a royalty percentage am I getting on this product well I'm getting 3% and and the sports team or sports merchandising industry that is pretty good its average two to four percent is around average for licensing your ideas out these companies if you're lucky it could hit two five two maybe even seven percent but that depends on the product the size of the company there's a lot of factors that go into the calculation of the royalties so they gave me a breakdown a while back the company gave me a breakdown of just the cost of everything and they found that 3% would be the ideal royalty percentage for both parties in order for them to make profit and I also make profit then get a little bit of coin three percent was the number that we agreed to and I'm not entirely sure what the final wholesale cost would be they gave me a numbers breakdown earlier but there were some reiterations to the designs and things change so we won't know until it's actually finalized and they are making it into huge productions and they'll be able to give me a number but whatever that number is I'm getting a 3% for the royalties and for the sports merchandising world that is average they tend to be two to three maybe four or five if you're lucky if you're really lucky it could be seven or eight but that's tends to be rare is it exclusive or non-exclusive for those who don't know the difference between the two exclusive means that this specific company has the rights to to be the only company to manufacture and sell this specific product idea if they were non-exclusive then I could go and hit up the East Coast market and this is one company over there that's just doing really well dominating the East East Coast market and they only get to sell in the East Coast and then I find another company in the West Coast you could sprinkle them around on different in different places depending on how well that type of product would do in that specific market so it would be a non exclusive but in my case it's an exclusive deal it's only gonna be this specific company that's able to purchase I may not purchase but manufactured and sell it and they sell it nationwide and I believe international - so that's great and they've got all these licensing rights to these leagues and that's a really big thing it's a pretty solid deal and also one of the things that I really liked that was already in the licensing agreement is that the intellectual property of or the product idea it already belongs to me I never I didn't really have to negotiate that so that is a really big thing and there were some other factors where like if there's any improvements or adaptations made to this product concept it still belongs to me so that was really cool to see that licensing agreement that I got from the company was very straightforward there weren't too many things or too many holes to plug in there were just little negotiations here and there minimum guarantees was involved and it is inside the contract which is great and it's my first time actually popping in and minimums guarantee clause or language within the licensing agreement successfully I've tried it multiple times and it always got shot down I do I got to do a little hat tip to David feet away because if David you're watching this he gave me some great pointers on how to put those in I'm not gonna go over the numbers of what those minimum guarantees is because I know that is definitely sensitive information but it is in and whenever you guys go in and do your licensing agreement negotiations over the agreement I would encourage you to put a minimum guarantee inside that contract there's this really big takeaway that I learned from the minimum guarantees and it's that it's not so much of that company performing to assert a to a certain level or selling a certain amount of units it's making sure that they are moving forward on the idea they are manufacturing it and then they were distributing it and then they're selling it marketing it that's making sure that they're not sitting on the idea rather they're they're selling it instead it can happen where a company might get busy and they kind of forgot about your idea you signed your licensing agreement 6-8 months going they just they got a bunch of other ideas that came into picture or came down the pipeline that seems like that had a lot of potential well if you didn't have anything in the agreement that says well you have to make it or sell at least this amount per every year or I get to take my idea back then they there's a chance of them just sitting on that idea and if you have a three year contract and two and a half years ago goes by and you're realizing that royalty checks aren't coming in and you're not seeing the store shelves you're not hearing any updates and they're sitting on the idea you're kind of screwed they robbed you three years of potential sales so adding that in was a really big thing I've definitely feel a lot more comfortable injecting minimum guarantees we're talking about it to the licensees and it's all about how you frame it but we'll go into that in another video it's definitely a separate discussion the overall term of the contract or the contract length is five years so five years is it's pretty good I'm excited for for the amount of royalties that will be coming in hopefully it'll be a lot fingers crossed so that's kind of the overall breakdown of the licensing agreement do a little summaries of the royalty percentage is three percent there is a five-year contract length and minimum guarantees is included intellectual property belongs to me and the improvements and overall I think I'm pretty happy with that deal and I've been keeping up getting updates actually from the company and there was a small design change which was which was fine it they they needed to update the design of the bottle opener because as it was being used multiple times the metal would wear out so they did a small change let me know told me why they did it and it's already in the works and once they sent get a sample they're gonna send it over to me I doing everything that I'm really happy about and they're always keeping me updated they're really transparent and my next step with this company is now well this idea is done or lockdown let's start sending them more ideas so I sent an email out to this to my contract within the company asking for what types of ideas he's looking for and once I kind of get that I'll be making my own little creative brief and just start jamming on more ideas with this company so that's it I hope you guys enjoyed this little licensing agreement breakdown video with a little bit of an update on what's been happening if you guys are liking this type of content and video I'd really appreciate a thumbs up and if you have any questions comments or other insights I would love to hear it down below and your in the comment section and for other folks that are waiting to hear back from me from all the emails or comments I apologize I've had a lot on my plate for the past few weeks and haven't had a chance to catch up with them but that is gonna be happening soon so just be patient with me I will get through all of them and I will see you in the next video
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