Collaboration · Contract negotiation

How to securely collaborate with an established company?

Noa Jahn My personality

April 11th, 2017

I develop a new product category together with an established company. Possible patents would be shared in the future. I had the idea and I initiated the collaboration, my relationship with the CEO has been good for an extended period of time now. They will manufacture and sell the product to me. I will be responsible for sales, marketing and distribution. Has anybody gained experiences in the past how such a collaboration could be best legally defined within a contract? Thank you for your advice!

Alexander Doak Tech lover, visionary, father of 8 and counting

April 11th, 2017

Definitely get many experienced eyes on the document. Make sure any editors are under the appropriate NDA (if needed). I would go online and hire at least one seasoned professional who would represent each interested party in the document. Have them review it, and offer suggestions. Pay them well, and by the hour. It might cost you a few hundred (or a few thousand) dollars, but these kinds of agreements are worth the investment. You could also get a lawyer to review it, but don't JUST get a lawyer to review it. It's cheaper and more effective to hire those who've operated under similar agreements to bring their experience to the table.