How Much Is Your Own Intellectual Copyright Worth?

Business By Crazy-Gray Updated 17 Mar 2014 , 6:41pm by sugarflorist

Crazy-Gray Posted 14 Mar 2014 , 10:48am
post #1 of 11

AI am in the unusual situation of being approached about my own intellectual property; a company wants to buy the rights to cast copy a couple of original toppers and probably to commission a number of sculptures too….

If anyone has any experience of selling intellectual property rights any advice would be hugely appreciated, and if you’ve no experience…. What would do?

The small print! - My name will not be associated with the final product, only their company name- ie it will essentially appear that they are the designers - They haven’t released any sales figures to me but based on my estimates and their current prices/recent investment in casting equipment etc I would say that they could make around £200-500 a year per sculpture although with better marketing they could do better…. - It’s quite a new business so I wonder if offering to become an investor of sorts would be more profitable to me whereby my copyright is discounted to say £50 a sculpture but I am contracted into a share of profits?

Part of me is quite nervous of how complicated this could become – I wonder if I should do a business degree before taking this on!

10 replies
-K8memphis Posted 14 Mar 2014 , 2:12pm
post #2 of 11

wow, gray, multiplied congratulations--sounds like potential for a great opportunity--and while it's completely out of my league i have two random thoughts --

 

one is that i know martha stewart does this sort of thing and i think michelle bombarito of michigan was one of her cake designers where martha got the credit for michelle's designs--so on the outside chance this is true and you can contact michelle...

 

and secondly you need a lawyer huh --

 

but bravo, well done *=D> applause

Crazy-Gray Posted 14 Mar 2014 , 3:44pm
post #3 of 11

ALol Kate I totally need a lawyer! Thanks so much for your lovely comments :-)

I've been mulling it over a lot, half of me is super excited and the other half is on analysis overdrive... Their email seemed slightly too unpolished and a little generic making me think it's a tendering exercise for a startup business... Still, I'm not looking this gift horse in the mouth!

I'll totally see if I can get in touch with Michelle that's a great idea thank you :-) I'm so glad I asked now, I was worried it looked a bit gloaty...

Ps... Been meaning to ask for ages... What's the significance of your avatar changing to a photo of a blind?? Lol I just can't work it out!

sugarflorist Posted 14 Mar 2014 , 4:19pm
post #4 of 11

AYou may want to think about an initial payment and royalties . This way you get a regular income based on items sold. Agree with others on the legal advice.

theresaf Posted 14 Mar 2014 , 5:15pm
post #5 of 11

Congrats to you!  It's an exciting prospect for sure.  Since it's already been said that you need a lawyer, yup!

Lots to consider!

 

Here's one of the things I wonder about:  what if you make a new figure and it's slightly different than the one you sold them.  Can you, and is it yours alone?  Can they make one like yours but make some changes and claim it's theirs?  Is there a patent of some sort involved?  I'm not a lawyer but deal with them everyday.  I always say  You Don't Know What You Don't Know!  Here, many lawyers provide free initial consultations so Good Luck!

Theresa

Crazy-Gray Posted 14 Mar 2014 , 6:27pm
post #6 of 11

A

Original message sent by theresaf

Congrats to you!  It's an exciting prospect for sure.  Since it's already been said that you need a lawyer, yup! Lots to consider!

Here's one of the things I wonder about:  what if you make a new figure and it's slightly different than the one you sold them.  Can you, and is it yours alone?  Can they make one like yours but make some changes and claim it's theirs?  Is there a patent of some sort involved?  I'm not a lawyer but deal with them everyday.  I always say  You Don't Know What You Don't Know!  Here, many lawyers provide free initial consultations so Good Luck! Theresa

Hmm good point! Would they say new my toppers fir use on my own cakes are now too similar to 'theirs' and use it against me... Hadn't considered that at all! I want to be able to continue as I am for sure.... I'll ask my lawyer (when I get one!) if it's possible to contract in an allowance to continue making cakes in my own style...

Really appreciate everyone's advice thank you :-)

-K8memphis Posted 16 Mar 2014 , 2:47pm
post #7 of 11

Quote:

Originally Posted by Crazy-Gray 

Ps... Been meaning to ask for ages... What's the significance of your avatar changing to a photo of a blind?? Lol I just can't work it out!

 

it's because i think of cc as a place that enlightens but the shade is drawn due to inconsistent policies--the light still gets through but it could sure be brighter.

 

Gerle Posted 16 Mar 2014 , 9:32pm
post #8 of 11

K8memphis....I like that explanation!  Unfortunately, it's also very fitting!  I've seen a lot of changes to CC since I joined.  Some good, some not so good.  There's also a lot of the more experienced cakers who were on here before that you just don't see any more.  I often wonder why.  I miss them and their expertise.  But there are also some that are still here that we can count on for some needed assistance.

costumeczar Posted 17 Mar 2014 , 2:32pm
post #9 of 11

This is something that you need an attorney for...advice that you get on here is probaby going to be worth exactly what you paid for it! ;)

SugaredSaffron Posted 17 Mar 2014 , 5:33pm
post #10 of 11

It might be worth getting in touch with people like Karen Davies and other mould makers.

sugarflorist Posted 17 Mar 2014 , 6:41pm
post #11 of 11

AIf it is a stencil why not cut it yourself?

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