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I will add that if you are considering a royalty you need to have answers to some questions before you can decide how long you ask for the royalty.
Again, I'm emphatically not asking for advice about the relative merits of undertaking such an agreement, or how I should personally evaluate an individual case. What I'm actually looking for is to find out what the common timeframe is in the industry for people who have *already* entered these types of agreements.
Let me give one example: In one case I developed an online store for a friend so she could sell her handcrafts online. Our agreement was that I'd get 5% of gross sales forever. These are the kinds of examples I'm looking for. Thank you.
In cases like these, how far into the future do you typically get paid?
Yet again, this has nothing to do with what I'm asking about.
Again, I'm emphatically not asking for advice about the relative merits of undertaking such an agreement
I didn't give you those questions to discuss the merits of a receiving royalties.... I gave them to you so you can create a realistic time line to recover your investment and make some money.
.we can't give you good advise [sic] you on how long to ask for royalties without knowing some of this...
I am not trying to talk you out of it.
What others have done doesn't matter...