The clauses that must be written in such an agreement must contain the things we will discuss. First, make sure that both companies agree to treat the information in a strictly private and confidential manner. Other issues to be discussed are repairs or damages or losses, possible terms of contract modification as required, termination or violation, explanation of the terms already discussed between the two parties, laws and deadlines defined by the state, payment method and other details regarding cash. In addition, all reciprocal commitments and/or obligations for their own good, which are decided, should also be presented in view of an agreement. Don`t forget to mention the period of this agreement. Another important thing in drawing up an agreement is that it should insist on a legal stamp approved by the government. That`s when Levin thought about all his options and chose a private label. „A lot of nickels are better than a few dimes,“ says Ljewin. The most consistent of the three private label clients with whom he has collaborated, Professional Solutions, signed in 1994 and has since sold Levin`s product under the name Instant Repair.
The decision proved a good one for Levin: since 1995, his company Custom Solutions has been selling approximately 1.5 million units of instant repair product per year in Danville, California. Companies that buy own-brand products are generally not too concerned about your patent status. However, they run the risk that the company will choose to manufacture the product or that a competitor will quickly introduce the same product. If you have enough money, you can apply for a patent before contacting the company. If your money is limited and you want to apply for a utility model, you can apply for a provisional patent that will give you a one-year margin until you have to apply for a utility model. Note, however, that you cannot patent your product if you wait more than a year to apply for your utility model. For more information or support on private labels, please contact our private label specialist at 718-907-9589; firstname.lastname@example.org that will help you. You are responsible for supplying the product under a private label agreement, either by manufacturing the product yourself or by having it manufactured by a contract manufacturer. Whatever the small margin of your margin, start with a contract manufacturer to make sure the deal starts well. You can switch to your own production plant as soon as the sale is safe. To earn money in a private labelling contract, you may need to consider production abroad.
We discussed the basics of private label agreements on our service site and in our overflowing key ingredients to a successful private label infographic (see below).