Selling 5% of my clothing company to someone I have never met before. We met on IG. I run a railroading IG page, and he is a fellow railroader. ANYWAYS...

I need help drafting an agreement where he is allowed to reproduce the logos I've designed and resell the items he does make.

I clearly want to remain the sole owner, etc but I just need help so nothing sneaky happens. Its not a big company, and its not alot of money. I just don't want to be swindled out of my company lolll

if anyone has any experience or advice , please post or PM

thanks

Get a lawyer, sounds pretty standard.

lol ... I'm selling fr $500. I have no sales. I need this to get the domain name and a few more samples. I cant afford 66% of what he gives me on a lawyer.

I'm certain someone here has written a legally binding contract before.

So for $500 this dude can produce items containing your logo and sell them?

Sounds like you need a licensing agreement and should be collecting royalties on it otherwise he’s gonna run away with your business?

Exactly what I was looking for. I feel like I am lucky enough to be where I am already. For less than 2000 fg and a bit of time on IG I am this far.

Maybe I need to look into collecting a small royalty off it or something to ensure like you say he doesnt run away with it.

I'm a railroader, I barely have my grade 12, was homeless in grade 9 my teachers just pushed me through because I still came.

Needless to say I am not the most educated, I just had an idea and kept working on it little by little, and here I am. I'd be willing to pay a small fee FG ( I can buy 1000 for 25 or something like that ) to whoever can help me. The last thing I want is to lose what I've built over night

This post was edited by grandmasterdom on Jan 26 2020 08:33am

Yeah man, I’m no contract lawyer but definitely ensure you’re able to collect royalties otherwise he’s paying $500 to the rights to a logo that he can sell in perpetuity without having to kick back to you as the designer.

Makes perfect sense. I appreciate that much this far, I just cant afford a lawyer at this point and time and have very limited experience.

you need to be uncomfortably specific to get any helpful advice on this topic. Even with the best legal team in the country it wouldnt be hard for him to change one small detail and cut you out entirely, happens all the time. I dont know the specifics but i suspect you are trying to fight a losing battle. I'm not sure it applies here (as again, i dont know the specifics) but there is a thing called a "no-compete clause" you can add which means he can never interfere with your profit margins in anyway (you have to specify the details of that too) but its gets a little confusing when youre selling shirts with the same logo and may not even apply (again, depending on details).

tl;dr- you didnt tell us nearly enough info and even if you did copyright laws are confusing and easy to screw with if you know what youre doing.

"Copyright law in the U.S. is governed by federal statute, namely the Copyright Act of 1976. The Copyright Act prevents the unauthorized copying of a work of authorship. However, only the copying of the work is prohibited--anyone may copy the ideas contained within a work." (a simply worded explanation of copyrights)

I'm also from Canada, Lol

lawyer....


are you dumb. you could get fucked for 500 $



This post was edited by 12345678 on Jan 26 2020 09:47am