I need assistance in preparing a business partnership agreement for my patented product line
Hello and Thanks in advance for any help you may be able to offer.
I'm very excited to have someone who is highly skilled working on my product line. She is willing to work for free, and in turn would like some sort of business agreement drawn up reflecting her skills to be used in this effort, along with milestones within the company, and it's monetary value. She is looking to be with the company long term but also would like ( eventually) a buy out option once the concept is successful. I am very flattered that she is one of the few people who are willing to dedicate their time on something with no reward until many huge hurdles are conquered. I want this agreement to reflect that appreciation. I only have Shark Tank percentages to go by, and those are always tied to the money they invest, not just their skills.
There are ZERO sales now, as I am still in product development mode. I do have working samples, and the concept is tested/proven.
So I need someone to help identify her value within the business, and how to extend value to her for believing in this concept and being willing to put in the work to get this to market. At this time, I do not believe she will be assisting monetarily in any way. Her contributions will be more on the product development side and has extensive experience in the shoe industry. I will still be handling marketing, web site development and costs, video production and it's costs. Crowdfunding campaigns and it's related marketing. She has a lot of very useful connections as well, which will add increasing value to all my efforts in those categories. Obviously, I have worked hard to get where I am, and the patent was all my hard work, and she doesn't want any of that glory. She's ready to dig her heels in, and I want an agreement that if YOU were the person offering these efforts, what would you believe to be fair and worth those continuing efforts?
Many thanks, Elizabeth