How a Food & Beverage Business Hired a Lawyer to Draft a Royalty Agreement in New York

I do not consider myself an expert in this area, but a royalty agreement is a type of contract, and there are several things for you to know about contracts in general. In no particular order: 1. The terms of any contract can be negotiated; 2. Any time a company hands someone any type of contract the company wrote, almost all terms will favor the company and not the other party signing the contract; and 3. Any time one is considering signing a contract for any type of real value, it's best to have a contracts attorney review the contract, advise you, and help you negotiate terms that are more favorable to you. (I'm not trying to push work for attorneys - I'm suggesting this to protect you). If you were signing a contract to have a kid mow your lawn once a week, you typically would not need an attorney - but for something like this, you were wise to ask questions. You can find contracts attorneys through wsba.org, and looking through the Directory under "contracts" or of course through ContractsCounsel.com. Whatever attorney you hire for a consultation, review, advice, or negotiation for something so important, please be sure to look into the attorney's reviews, education, experience, etc, just like you would for any other "expensive employee." Good luck to you, and I wish you every success. As a PS, this type of contract is outside my wheelhouse - just posted these comments to try and be of help to you. Best, Merry