Designers

I have found a designer who is very talented, and more
importantly, interested in designing my idea. She has never
worked on royalty fee basis so I cannot ask her for previous
contracts.

***

Usually you'll find this kind of info out doing the research phase, and
reading trade journal articles about who is paying whom what for design... some
of
these designers have biz agents... track down karl lagerfeld and try to
ask... they'll refer you to his agent... his fee is probably standard, say 3%,
but
his up front "advance against royalties" may be $1 million.

Of course, you will not pay $1 million nor contract Karl; but you will then
know his rate is 3% and you pay your designer "the same as karl lagerfeld",
just no advance.

Work along these lines and let me know how it goes.

John

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Comparative Economics

Folks,

This is a interesting quiz available free that is only 25 questions but takes
about 1/2 hour to complete, and you may be interested in it.

http://www.mises.org/quiz.asp?QuizID=4

Given the talk of trade-wars with Europe and Asia right now it might be
useful to find out where you currently are in your economic theory; and see what
the alternative views are. Don't worry about the introductory info at the
beginning of the quiz... just jump in...

I recommend it.

John

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Labor vs. management

Designer Contract

Hi John,

I have found a designer who is very talented, and more
importantly, interested in designing my idea. She has
never worked on royalty fee basis so I cannot ask her
for previous contracts.

I have contacted numerous trade associations in
fashion and accessories and no one has any idea what
is the standard royalty rate for fashion designers.
Do you know where I might be able to track down a
designer contract and their standard rates (in fashion
accessories)?

Also, there are two parts to the design of my product
- 1. improving how it functions and 2. creating an
aesthetic which will change with each line (and with
designers). If I use the functional design created by
this designer with the aesthetic design of different
designers, how do I compensate each designer? For
example, 5 years from now if I am still utilizing her
functional design, is it standard practice to continue
paying a percentage of the royalties to this designer?
If so, how much?

Thanks,
Renee

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