Legal Question in Business Law in Nevada
contracts
How should I get compensated for all my knowledge and 40 yrs experience in the meat business, and for my jerky and sausage and meat recipes? I have a person wanting to open a business with my help, He wants to buy my jerky, beef sticks, kippered beef, fresh sausages, salami, recipes. I was thinking I might want a percentage of the business. I'm not sure what the fair # would be. Maybe 25%? I would be working part time in the business, would I want a wage also? HELP. Thank you, Steve
2 Answers from Attorneys
Re: contracts
Stop. See an intellectual property attorney, prior to allowing anyone, and I mean anyone, access to your recipes. Think Coca-Cola.
What good is even 100% of the royalties of an idea or process that has found its way into the public domain?
Your attorney can advise further.
Re: contracts
15% of gross net or a flat fee for the recipees and $50 an hour as a consultant.
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