Royalties Agreement

[DuaneJackson]

I've been googling for a template of what I need, but with no joy.

I need to put together a contract between my company and an individual. The individual will be paid 5% of all sales of a product that my company owns for 10 years. Payments will be made quarterly .

Does anyone know where I can get a template for this kind of thing?

[annethedonn]

Hi Duane

Try these links:

http://www.clickdocs.co.uk/
http://www.simply-docs.co.uk/

Anne

[DuaneJackson]

Thanks Anne. Those sites don't seem to have what I need, but I'll look further. I've bookmarked them anyway because they're great sites!

[annethedonn]

no trouble - I have a similar agreement but without the royalties - you could use that as a template if you like but you'd need to amend it. My solicitor drew it up for my contractors

[lawspeed]

Royalties are usually used in the context of Intellectual Property belonging to the party that you are paying royalties to, does this apply to your circumstances? Alternatively is this individual actually providing sales/marketing assistance as an authorised agent? What is this individual providing you with in exchange?

If you provide a little more information then I can advise further on an appropriate licensing or 'agency' agreement.