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Showing posts from May, 2014

Kacharagadla Featured Article

5 Ways to Validate a Business Idea, Right Now

Don't let your day job or lack of capital stop you from finding and testing a business idea. Here's how.
Last year, I embarked upon a personal challenge to validate a business idea in 30 days. To make it even more difficult, it was a random idea chosen by my readers. They asked me to do it without using my existing website, traffic and business connections and without spending more than 20 hours per week on the project. On top of that, I limited myself to spending no more than $500 validating this idea. The experiment was a success.In just two weeks, I built an email list of 565 subscribers without having an actual website. Then, I reached out to a handful of those subscribers and pre-sold 12 copies of a book that didn't even exist yet, all in less than 30 days. I wrote about the experiment in real-time with in-depth weekly updates, successes, failures and lessons learned along the way, right here in my validation challenge. Today, I want to share with you the five most effect…

3 Pitfalls to Avoid in Licensing Agreements

Whether you are a licensee manufacturing a product or the brand owner licensing your product, the definitions, requirements and terms stipulated in the licensing contract are crucially important. Since many of us have no idea how to go about finding a brand licensing professional, we relegate negotiation of the business terms to our attorneys
The truth is, attorneys are qualified to address the legal language, such as reps & warranties, indemnification and infringement, but in most cases are not familiar enough with licensing agreement terms, including test protocols, authorized channels, approvals and quality controls, to negotiate them properly on our behalf. Unless you, or someone on your team, has experience in negotiating licensing agreements, you risk falling into one of the three most egregious business term pitfalls in standard licensing contracts. Watch out for:
Nets sales.This may be the most important definition in any licensing contract. The royalties owed are dependent …