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Using A Company's product in your Product?
Currently we are developing a certain tech product that requires a micro Computer to be implemented in the design. All of the other technology has been created by us. The question is regarding the legal stipulations of implementing a micro computer that you did not develop into our design.
We want to use a micro computer that has already been developed, and use that in the design. We want to know what are the legal requirements to include a product like this in your design. We are prepared to give the company any advertisement on our product. We would just like to know what to ask this company, and/or the correct terminology to use.
Thank you for your help.
Best to get a lawyer to write up the final contracts but not right away because if they smell lawyers they know you are serious then you will have to pay through the nose! I suggest, getting as many bids on the part or product you need. Write a proposal and shop it round so you then can experiment with getting the best deal and if you blow the negotiations with one company you have other companies to fall back on. Word the request as if you are simply shopping for a good deal and you believe you are giving the company a great opportunity to sell a lot of their item. Don't be specific enough to give away exactly what you are doing. Write something like. "Hi, we've developed a new product that needs a micro computer to operate it. We are considering your micro computer the wx345 and a few other brands. Can you give us some prices on large quantities? We anticipate 1000 units a month at first then of course it will grow. Also we would have to know the availability and shipping time for such large orders. Quote firm prices that you can guarantee for two years, so we can figure it into our costs of manufacturing and pricing. Also include all shipping costs. Remember you are not looking for a partner, you are offering them a chance to sell thousands of units if your product takes off. Plus, all the publicity that it is their micro computer in bedded in the super successful product of yours. And if your item does take off, everyone will know their micro computer is a big part of it since Tech products are one thing you can't keep secrets about for long. Firm up all the prices and fine details before you engage the lawyer. You will pay through the nose if you let the lawyer negotiate the price for you! Plus ask around if anyone can develop a similar micro computer like the one in question but more specific designed just for your needs. You might as well start checking all your options now in case the company you have in mind tries to gouge you or can't produce the quantity you need or some other snag comes up with them. The key is not to word it with the same tone you worded this question. Use the tone that a buyer would use who is looking to make a huge purchase that he knows can mean a lot to this micro-computer company. Flip it around and act like you expect them to jump through hops to win your account. When everything is firmed up. The last step, which you phrase as it is just a technicality will be the signing of whatever your lawyer writes up. Bring the papers and a bottle of champagne to toast the signing. Need more help, leave me a comment on any blog page on www.gurumarketingtips.com I could possibly handle the whole deal for you and teach you how to re-negotiate an even cheaper price after you get the signed agreement for the firm two years price.
Source(s):10 months ago