Melissa Ratford
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Looking to Sell Your Side Project?

Looking to Sell Your Side Project?

In the roman era, before monetary transaction came into practice, barter system was used to transfer ownership for one good. You were required to carry out the sale or transaction through exchange of goods. Now that the currency and monetary system is in full practice, the barter system has eradicated. You are free to sell anything at its due price.

The sale of technological products is however different than the normal consumer good like shampoo soaps and some other. Technology is not just another fast manufacturing consumer good, which could be sold without an agreement.

The benefit of having a non-exclusive sale of technology agreement is that you have it in written about the transfer of ownership. This prevents future hassle, chaos and issues as far as your product is concerned.

A Nonexclusive technology sale agreement template is signed between the seller and buyer, and it comprises of review of the products you are selling, their condition and price along with the warranty details.

Benefits of Having the Agreement:

  1. Such agreements help small scope companies with smaller number of stakeholders. Small number of businesses can secure the simplest form of transaction and avoid legality issue in the future.

  2. This agreement clearly identifies the set of rights each party owns before and after the transaction. Both parties as in the buyer and the seller are clear of their respective give outs and would have to act along the best interests of each other.

  3. This signifies the harmony between the ones involved in the transaction. It clearly states both the parties have unanimously agreed on the ownership clause.

  4. Another highlight of this agreement is agreement and mutual acceptance of the selling price. Buyer and seller have agreed on certain terms and selling price in advance which takes care of the taxation and estate laws in the future and longer run. Technology sale and purchase agreement secures your proprietary rights.

  5. This bond verifies your investment and makes you a potential and reputable businessman for further investments.

Strategies for Sale of Technology:

Never let go of your product for a price lesser than its original worth. Technology is not something which deteriorates on its own. No matter how old it is, a significant advantage could be extracted out of it depending upon its utility. So the basic strategy for selling your technology is negotiating over a fair price.

You have to look for yourself its value and the attributes that it has and then make any move or further offer. The buying party has definitely some sort of need that you are looking to cater. When you have seized that opportunity and you have what it takes to fulfil that need then instead of employing cheap tactics, make reasonable offers and accept reasonableness in return.

Places to Sell your Technological Products:

Online selling is capturing quite a trend nowadays. Whatever you have to sell, just go online rather than physical selling. Brick and mortar system has now depreciated significantly so online selling is highly profitable, advisable and recommended. Before going all the way online you require technology license agreement. You can go on following platforms for selling your projects

  1. Facebook is just the right place for reaching out to the masses. You can conduct online buying and selling and even conduct electronic signing of the agreement over there. Facebook groups are used for this purpose.

  2. Another great platform for suchness is Amazon. In a popular opinion Amazon works in a better yet productive way. That is because reviews could be genuine and authentic exactly by the buyers. You can see how people have reacted to certain purchases. The pros and cons are also mentioned which makes it easier for the seller to post their product and more beneficial for the buyer. The buyer is then in full awareness of what goes in any product.

  3. EBay is the online auction site. Amazon and EBay go neck to neck in sale of such products. They have features almost similar to that of the Amazon and it too could prove useful in selling. These websites give you selling guarantee and sure profit which isn’t rendered so easily.

  4. SWAPPA: this is a new addition to the list of websites for buy and sale of used mobiles and even new packed ones. It is so easy to create a new listing on this website. It lets you post variety of products that you wish to sell. It has a user friendly display and makes it easier for customer to navigate on the website.

Buying and selling of technology or your side projects is not an easy task. It takes in a lot of consideration, a lot of time and effort. It is also possible that you may not get the desired customer or even price for it, but you have to make adjustments if that is your business that you intend to pursue and follow in future. Patience is the key.

This story originally appeared on the LegalNotes blog. | photo.credit