Selling out to the man, a big decision.

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  1. I was contacted about two weeks ago by a group of doctors who buy intellectual property and then take it to market or take it to the next level, and then try to sell.

    I've been offered a reasonable amount of money for all the intellectual property rights to the tattooable purse and other tattooable items which I own the intellectual property on.

    It is not a fortune, but it's also not a bag of peanuts. I have discussed it exhaustively with my wife, family, friends, attorney, and anyone else who would listen. LOL I'm still on the fence.

    Not that anybody here could make the decision for me, nor would I want them to, but it would be nice to know what some of you think, and what you might do if you were in my shoes. Stick it out for the long run, or take the cash?

    As I am typing, I am thinking maybe I’ll stick it out and see what I can do with it.

    Just thinking out loud,
    Robert
     
  2. Sounds like it's your baby and it's hard to put a price on that. If you think there's a market for it in the future (when you might change your mind), then I agree you should wait. I have pieces of my artwork from what I call "one of my former lives." I completed my last drawing in 1986 and is most definitely my baby (and my best work IMHO). I could never sell it......unless the price were right and I needed the money badly enough. Even then, I'm not sure I could part with what I consider part of my soul. Perhaps that's your reluctance, too?

    Tough decision either way. I don't envy you.
     
  3. Likeyou said, it is your decision and there are other personal factors that only you know and can evaluate.

    If you are going to sell make sure the offer is fair. My husband (as well as many others) always says to never take the first offer - perhaps you could maintain a stake in the product, stay on as a consultant or even take a small percentage of future sales in addition to the initial cash buy-out.

    Sounds like a great product/idea...wish I had a little bit of creativity in me but I don't and probably never will :sad: .
     
  4. ^ Exactly what I was going to say ... never take the first offer! This is all about negotiation. If you WANT to sell, don't do it unless you come up with a number that makes you comfortable. And don't get bullied into making a decision otherwise.
     
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  6. Ooh...that's tough. Won't pretend I have any life experience to share or advice to impart, but good luck!
     
  7. Hard one...

    on the one hand it's your creative idea and that is hard to give up, and might be more $ down the line.

    but sometimes, those with more capital and marketing can really get the product out there.

    I love the idea of a % of sales down the line plus the initial buyout...that might be the best of both worlds.

    Good luck whatever you decide :smile:
     
  8. take the money and enjoy the security of knowing that yuo have money in the bank
     
  9. This topic title made me choke on my soda
    :lol:
     
  10. Yes, my "evil" plan is working, was it "strawberry" soda? :lol: