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[Farbs]

Hey folks,

Has anyone here ever sold or licensed their IP? I'm considering an offer at the moment and am looking for advice.

Please, bring forth your bloodstained laundry.

[Guert]

I don't have experience with my own IP but here's a couple of tips I caught here and there.

The first thing you don't want to is to loose your IP. It might be a good option at first but in the long run, you might loose a lot. It's important that the creator keeps the rights of his creation in some way. Either make sure your name is always associated with it or something that clearly states that you are the owner.

If you go for license, it becomes interesting. You can control what the licensee can do with the IPin some way. You must make sure that in your contract, the licensee must have the game approved by yours tuly. Also, try to provide guidelines for your IP.

If you decide to sell, make sure you ask for alot of money. You don't know how much it'll work out on the buyer's side and you might end up selling a multi-million license for a few bucks. If you license, don't be too greedy. Be reasonable but work alot with the licensee to make the experience smooth and fun on both sides. This way, it'll help make your license look good and you still control it.

And whatever you do, never sign the first offer. Make sure you know exactly what your signing. Have someone with law knowledge to read it too if you can.

Well, my two cents. Later!

[ravuya]

Yeah, get a lawyer. A few hundred bucks now could save a lot of grief and money later.

[Farbs]

Awesome, thanks guys.

Thankfully my (domestic) partner has a law degree, so I get her to check out all the paperwork. I'd still track down an IP specialist before signing anything though.

This particular deal fell through, but it was a pretty good experience. I think I'd really like to develop stuff to the point where it could be licensed out in future.

[ravuya]

I think contract law is different from criminal law or the like. It might be worthwhile trying to find a contract lawyer, but I assume your partner will inform you of this if applicable.

There are a few books around on game development legal advice and small business legal advice, might want to pick one of those up as well.