Recently moved to Sydney after 3 years in NYC. The co-founder and CEO of YouMoveMe - Strategy. Entrepreneur in soul and an Israeli corporate lawyer by education and profession. Loves marketing & strategic planning. Passionate about helping others. Serves as a coach in the Leonard N. Stern School's W.R. Berkley Innovation Lab at New York University.
Different countries have different rules regarding arbitration. In most places, the parties to the agreement decide in advance what will be the arbitration's rules such as: how will the the arbitrator be appointed, how long will the arbitration take, what procedural rules will apply, who will pay the costs of it (can be both parties in equal parts, according to the arbitrator's ruling or any other way), etc. A good lawyer can draft this as part of the agreement and you can also find some examples on line.
Hi, it sounds like you are in a very initial stage. Remember that ideas there are a dime a dozen. Before you move forward and spend money, validate your idea. sit a few hours and do the basic homework. See if the pain point you found is real. There are many app out there that will ask you the right questions that will help you see if your idea is valid. To start, ask yourself 3 questions: 1. Is the pain point I found real? 2. Is my solution real/ better? 3. Am I the right person to execute it?
If you have further questions,feel free to schedule a call.
Good luck, Yoash
As you probably know, a lot of companies use the term "business development" as a synonyms for "sales", so at my role as a VP business development I had to do some called emails and calls as well.
It is never easy, even if you have the best product in the world and event if you are the best sales person in the world.
You need to show a need, and the need must stay in the customers head even after the sale so the product will not be shipped back.
If this is not your day job, and you want some extra money, look for a company that is looking for sales people like you, they will usually give you a list of leads based on landing pages or TV commercials followup calls so the call is a bit "warm" and not so cold. There are a few products like that, like health emergency buttons. Just google it or use Indeed to find the relevant position.
Hi. I am not a lawyer in the US so I cannot offer you a legal answer her, BUT try approaching the EFF as their Staff Attorney Daniel Nazer is "Mark Cuban Chair to Eliminate Stupid Patents.
Over the years as a lawyer and a business consultant, and recently in my new role as the VP business Development of a software dev shop I have met a lot of entrepreneurs with the same questions.
The answer of where to find your co-founder depends on who you are, what you are looking for and what is your business idea.
In order to find a good co-founder FOR YOU - you need to start with good chemistry between the two of you.
Seconly, you will need someone who can complete you. Ask yourself what will be your job in the new venture?
What strengths do you have and what qualities experience and capabilities you will want your co-founder to have.
Start with you friends and see if one (or more) of them can be your co-founder. It will - in most cases - be your safest bet.
First of all, good luck. It's not easy to start in a new city, especially in your field.
I would start with identifying where your potential clients go to before coming to you (if at all). Create partnerships and if needed, offer a relevant references a free treatment so they will be happy to send clients your way.
As I have seen similar cases a lot of time, in most cases it means that he is not interested anymore, or at least, no so enthusiastic about it as you want him to be.
So instead of trying to find new ways to him. just move on. You can keep in touch with his reps once every two weeks, but check other options. If the idea is that good, you will find someone else that will be interested.
Hi ,as a corporate lawyer I have dealt many times with licensing agreement and there are two things that are typically a part of these kind of agreements: A. the first one is auditing rights - that allows you to check the other side's books at all time including by a professional auditor (and if there are big discrepancies between what was reported and the actual sales they need to pay not only the difference, but also interest, a penalty and the fee of the auditor). B. you sign a mutual NDA that the auditor is obligated by it as well. They can quietly reveal their fee as you are obligated to keep it confidential or at least someone on your behalf can review it.
The question is, if you are getting a percentage - won't you know there fees anyway? What is their alternative? If you want, you can make an estimation and charge them a fixed licence fee.
My guess is that you don't want this to fall through so you need to find a creative solution.
Well, Humberto gave a very good and detailed answer and I will be happy to add just a little bit more.
First of all - I must disclose that I work for a company that develop apps and other software for every one, from people like you that are just starting to big well established companies.
When someone comes to us with an idea, we usually sit with him and write down its specifications. We write in details what the app should do (and look like) from the users' side (with some mock screens) and from the server's side. Once we have that, we can estimate the scope of work and give a price offer.
This cost money, so be prepared for some initial investment from either your own pocket or from what is known as the 3F (Friends, Family & Fools...).
After you have the specifications you can start asking for price offers so you will know how much money you need to raise. A good way to get investors would be to develop a demo or proof of concept. Something that will look like an app but will not do much. Developing a demo is much cheaper and in most cases will help you better convey the idea to potential investors.
Good luck and give me a call if you have more questions or want more ideas.