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I am planning to develop a part of a software running on a hardware+software product. The idea is to be paid about 10% of every item sold on a free contract basis (no corporation creation).

I would be looking for real world advice on:

  1. What would such a contract be called? (I don't even know what to search for...)
  2. How can it be implemented?
  3. Has it been done by one of you?
  4. Experiences with the model.

Any help or pointers much appreciated.

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It would be called a "Royalty" if you receive dividends on each item sold.

If it's software, you could easily factor in x% of price, or $x, added to a total royalty due each time something is sold. Total royalties due could be seen in an admin area, or sent via email, etc., at specific intervals.

-- I've personally not implemented such a thing.

  • Big +1 for the disclaimer. – Roman Jan 15 at 14:56

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