You’ve invented a product and now you’re ready to take it to market. But before you jump into an exclusive distributorship agreement with the first person who shows interest in your product, there are a few things you need to know first.
1. Never grant exclusives without guarantees – The first thing everyone will ask when they approach you about selling your product is whether they can have an exclusive or not. I can’t really blame them for asking, because if they are going to put a lot of time and money into your product, they want to know that they have an exclusive to sell it and keep competition away. [Read more…]