Business Contracts Need help with licensing agreement please

[impacreations1]

We are about to sign a Licensing Agreement; it does not (yet) include royalties (to us) based on their retail sales from their website, and store and places like amazon.com (as opposed to their wholesale sales), nor, does it include royalties paid on Wholesale and Retail* Worldwide Sales. Is This Standard? I feel like I should get royalties on those two items/terms. Thank you very much. New Jersey (Me) and New York (them)(They are licensing my patented products). I am guessing that all terms are negotiable. I want and need to know if the above is a standard term(s), or if I am potentially losing monies from royalties. Again, Thank you VERY Much!

Mark

 

[army judge]

You shouldn't trust such a financially important decision to strangers on the 'net.

I strongly encourage you to hire an attorney to protect your rights and assets!

If you don't, you'll be back in 90 days (or less) asking what to do after you've been ripped off or cleaned out entirely!

 

[impacreations1]

I agree; and, I am in the process of trying to find an attorney who will accept payments, and can work ASAP as I have the contract in my hand and it needs to be reviewed; at least. However, I still wanted to get an idea on here, if possible.

 

[army judge]

I agree; and, I am in the process of trying to find an attorney who will accept payments, and can work ASAP as I have the contract in my hand and it needs to be reviewed; at least. However, I still wanted to get an idea on here, if possible.

Never rush these important decisions.

An ounce of prevention is worth a pound of cure!

 

[impacreations1]

I am not really in the position of stalling; we have time to get the contract looked at; but, that is about it. In the meantime, I was hoping to get some advice on here to corroborate and compare with what the attorney we find will say. Any advice on my contract terms as noted above would be greatly appreciated.

 

[Michael Wechsler]

I am not really in the position of stalling; we have time to get the contract looked at; but, that is about it. In the meantime, I was hoping to get some advice on here to corroborate and compare with what the attorney we find will say. Any advice on my contract terms as noted above would be greatly appreciated.

Army judge gives excellent advice, as usual and glad to see you're on the same page. I'm actually across the river from you and licensed in both states but I don't think the issue is one concerning a local lawyer and more of a business issue. You believe you deserve royalties but they aren't offering. Perhaps you can explain what you do and we can discuss generally whether what you're seeking is what is done in the industry or there are other methods of compensation that may be more appropriate for you to request.

 

[impacreations1]

Perhaps you can explain what you do and we can discuss generally whether what you're seeking is what is done in the industry or there are other methods of compensation that may be more appropriate for you to request.

I have patented pet cat products that I am licensing to another party.
THEY will = for the most part - be wholesalers of my products
- and I will get royalties based on wholesale pricing
- However, the party to which we are licensing our products also has a website and a retail store of their own
- Should we get royalties from his retail sales?
- He can also sell retail on sites like amazon.com and Ebay
- Should we get royalties on those sales?

Our products are also 'Year-round and Worldwide Products'
- What of he decides to sell my products worldwide
- my contract only states 'usa sales'
- And, we feel we deserve royalties on worldwide sales...

We have ten years left on our patent
- we have a ten year contract
- 5 years at royalty percentage 'A'
- 5 years at royalty percentage 'B' (which, is half of 'A')

ANY help you can give is a blessing..
I spent most of yesterday reading and rereading the contract,
and contacting attorneys (late in the day)
- I assume some of them will start calling me back this morning...hopefully.

THANKS!!!!

By the way, I have both slight physical and slight mental disabilities and I have trouble reasoning, at times.
Which, is why we are so hell-bent on finding an attorney locally who accepts payments...I'm on social security....