Help me appraise the intellectual property values of acquaintances, if I do all the work bringing their ideas to market.
October 14, 2007 12:34 PM Subscribe
Need help appraising the intellectual property values of acquaintances, if I do all the work bringing their ideas to market.
posted by Redruin to Work & Money (5 answers total)
I seem to have interested a number of people/friends in entrepreneurial endeavors. People whose ideas I think have good value and high potential, but people who are utterly clueless about how to turn it into money, and who are completely unmotivated to make things happen. In other words, their ideas will stagnate, and eventually be exploited by someone else if not for my effort and time investment.
Since I find inherent value in their ideas, I am considering lending myself to a few of their projects; but if I decide to "partner" with them I will be doing nearly all the work, using my own ingenuity and creativity to turn the ideas into products, marketing them, etc.
In cases like these, where the final product would consist mostly of MY intellectual property and effort, which is however, completely built around the initial kernel of THEIR intellectual property, how should I determine the profit split?
It seems that people's opinions of what they deserve for their ideas varies, but most expect a high percentage of the profits, with minimal involvement, (one facet of The American Dream). I would like to be able to present clear guidelines that would explain to them what is fair.