Need advice on what type of contract to use for a business deal I am working on.
The deal -
Party 1 (My partner/client) - well known celebrity in a niche category. Has three decades of videos, books, blogs, etc.
Party 2 (Me - internet marketer) taking the past videos/books/programs/seminars; repackaging, and reselling. typical internet marketing.
I want 25% from the sale of every item, over a given period of time. I may progressively drop that % over time.
I have never done a deal like this before, and the jist of the deal is to hold the other party(party 1) liable for paying me the agreed rate. I will be investing a lot of time and money in getting these products to ship.
Would anyone know what this arrangement is called, or what type of agreement to use?
Thanks, and happy new year!
The deal -
Party 1 (My partner/client) - well known celebrity in a niche category. Has three decades of videos, books, blogs, etc.
Party 2 (Me - internet marketer) taking the past videos/books/programs/seminars; repackaging, and reselling. typical internet marketing.
I want 25% from the sale of every item, over a given period of time. I may progressively drop that % over time.
I have never done a deal like this before, and the jist of the deal is to hold the other party(party 1) liable for paying me the agreed rate. I will be investing a lot of time and money in getting these products to ship.
Would anyone know what this arrangement is called, or what type of agreement to use?
Thanks, and happy new year!
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