I am about to go into negotiations with a major corporation
for the worldwide retail rights to my product. The company wants to
put my product in major retailers and certain specialty stores. Can
you offer me any advice on getting what I want from the
-Joseph Schulman, president, Mobility Solutions in Lakewood, New Jersey
Consider all your alternatives before settling on this one. And it's not just about talking to every other major corporation that might offer you a similar deal. Step back and ask the hard, big-picture questions. For example, are you sure you want a major corporation to do your selling and dis-tribution? Is there a better way to do all, or even part, of it yourself? What kind of business models have others used in similar situations?
If you do want to do business with this corporation, make sure to consider alternatives within the deal. Maybe it should be done in stages. Perhaps you should limit the rights you're licensing. Maybe you should include controls or an escape clause. I would suggest hiring a good transactional attorney; he or she will help you ask the right questions.