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Old 02-26-2012, 12:11 AM   #1
MikeH
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Join Date: Feb 2012
Location: New Caledonia
Posts: 1
Default Royalty issues in selling a photography business

Hello,
just wondering if there is someone out there whi has encountered a similar situation and how did they deal with it. I am proceeding to sell my photography and publishing company which I started 26 years ago to another photgrapher.
I have an extensive photo library and also many products such as post cards, books, table mats etc already made and also a dozen projects/products at different stages of completion. The sales of stock photos will be a 50/50 split as is the inductry benchmark, but what about royalty payments on very recent products, ones about to hatch and future projects? I want to find a suitable compromise for all involved and continue to contribute to the company under new ownership, so a long lasting deal is sought here, which will be suitable for all. If anyone has had a similar situation, I would be glad to hear from them and their way of dealing with this. Obviously some products are easier and quicker to make than others. A book needs more work than a simple photo/design on a mug for example. There has to be a detailed programme of who does what and for what returns, otherwise there might be a disgruntled person who might feel shortchanged, or overloaded with work. Thanks for your comments. MikeH

Last edited by MikeH; 02-26-2012 at 12:14 AM. Reason: looking for advice/answers
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