How To License Your Digital Info Products For Extra Income

By | Business Contracts, Business Lawyer, Internet Lawyer | No Comments

info product licensingIf you have an ebook, online course, or other information product to sell, it’s often more profitable to license the products for resale than it is to have an affiliate product where you pay others a commission on each sale made via their affiliate links.

What Is An Info Product License?

To be clear, a license is granting someone permission to do something.

The question you must ask yourself is…

“What type of permissions do I want to give the wholesaler who buys a license to resell my info product?”

The simplest would be a resale license with no extra rights.

Resale License Options

Of course, the price of your license can increase with the more rights you give.

For example, you may grant “master resale rights.” This typically would allow your wholesale licensee to both sell your info product to retail customers as end users but also to sell resale rights to new resellers.

Another option to consider is “private label” a.k.a. “white label” rights. In most instances, this would permit your licensee to retitle/rebrand your product (and even put a new author on it) before selling to others.

And these rights can be combined. For example, you could charge a higher price for someone who wanted to buy private label master resale rights.

Of course, one of the down sides to selling more rights is that you lose control of the product being sold by these licensees, particularly when a master resale licensee is selling resale licenses to others, who in turn sell the product to end users.

Pricing Your Info Product Licenses

Regardless of which permissions you decide to want to sell, you also need to consider pricing and how it’s structured so that you can get paid what you’re owed under each licensing deal.

How To Get Licensing Help

An experienced online business lawyer can help walk you through the options and set up a plan for generating extra income by resale licensing your info products. If you want help from Internet Business Lawyer Mike Young with your information product licensing, whether it’s resale or end user license agreements (EULAs), the first step is to set up a phone consultation with him.

How To Make An Offer To Buy An Online Business

By | Business Lawyer, Internet Lawyer | No Comments

buy online businessWhen you find an online business you want to buy, the fear of missing out (FOMO) often leads to making mistakes that can hurt you legally and financially.

In the rush to acquire the venture, it’s a common mistake to throw an informal offer at the seller verbally or in an email to the seller or the seller’s broker.

This type of offer will typically be defective because it lacks key terms designed to protect you, including your ability to walk away from the potential deal if something is wrong with the business or its financials.

For example, you might think you’re making an offer to buy some of the essential assets but the seller mistakenly believes you’re offering to buy the company’s equity (e.g., corporate stock).

And when a deal falls apart badly, that’s when lawsuits and other nasty stuff happens because either you or the seller feels cheated or deceived.

The potential damage from a blown deal can really add up if the seller turned down other offers (lost opportunity costs) based on the mistaken belief you would follow through and purchase.

To reduce the risk of this happening, it makes sense to make your offer using a non-binding letter of intent (LOI) that spells out the key details of the offer and provides you the ability to walk away (or revise your offer) if you discover something important that adversely affects the value of the business to you.

An experienced Internet business lawyer can help you create an LOI that’s designed to be a serious offer to purchase an online business while protecting your interests in the process. If you’d like help with this from Attorney Mike Young, the first step is to book a phone consultation with him.

Buy Someone Else’s Sweat Equity

By | Business Contracts, Business Lawyer, Internet Lawyer | No Comments

Instead of starting your own online business from scratch, it often makes more sense to buy an existing e-commerce venture.

Let someone else spend the first years getting the business up and running. They invest their sweat equity in the startup and you can profit from that by purchasing their venture at the right price.

When you purchase an existing e-commerce business, you’re buying a proven concept that (should be) profitable and buying years of time you’ll save that the founder(s) spent building it up.

What if you’ve got an existing online company? Often it makes sense to grow it by acquisition of competitors or buying complementary businesses.

Now an experienced Internet business lawyer can help you structure a deal that makes sense for both you and the seller.

If you want Attorney Mike Young’s help with buying an online business, the first thing you’ll want to do is schedule a phone consultation with him.

Are You Running Your Texas Gym Illegally?

By | Internet Lawyer | No Comments

Some Texas gym owners are breaking state law and don’t even know it.

Why is this important?

First, if your Texas gym contract violates the state’s health spa act, the agreement is unenforceable if any member who signed it wants to walk away.

Second, you could be sued by the state attorney general for violating the law.

Third, you could also be in legal hot water if you’re violating Texas’ biometrics law with your data collection and retention practices.

Now that’s all in addition to your potential civil liability for not having the right releases and waivers in place for guests and members (both adults and children).

Don’t work hard to build up a successful Texas gym only to see it destroyed because you didn’t obey the law.

To get help protecting your Texas gym, set up a phone consultation with Business Lawyer Mike Young.

Does Your Business Website Break The Law?

By | Internet Lawyer, Website Lawyer, Website Legal Documents | No Comments

If you haven’t had your business website reviewed by an experienced e-commerce attorney, chances are there are legal minefields waiting to explode. That is, real danger of lawsuits and government investigations because of what your site includes and what it is missing too.

A website legal compliance review is an easy way to discover these hidden dangers so that they can be quickly fixed before your business lands in hot water by breaking the law.

What should a review include?

(1) Identify what you’re doing right so that you can repeat these good practices.

(2) Point out the legal risks that must be fixed in order to avoid costly and time-consuming lawsuits and investigations.

(3) Reveal legal dangers that you may choose to assume or fix depending upon your risk tolerance levels.

(4) Practical recommendations for fixing identified legal risks so that you know what needs to be done for your own peace of mind.

If you want Internet Business Lawyer Mike Young to perform a website legal compliance review, the first step is to book a phone consultation with him today.