FAQ Entry #344

This is a respond to a previously asked question about the A' Design Award and Competition. The full list of frequently asked questions can be accessed here.

#344: I want to use the design mediation services to sell my design and I already made international patent filing for it for that purpose but I do not know how to set the price for my design?

A very good way to determine the price for a good design project is to take and present it into several interested companies (of course after due diligence of for example registering, patenting work and after perhaps asking them to sing a Non Disclosure Agreement NDA whenever possible) and let these companies bid and compete against each other, this way you can set the price bar as high as possible, in most cases the companies would offer lump sum payments while they could also offer royalty payments. In some industries it could be easier to track number of units sold or the number of times your design is used and in this case the royalty payments can be a good idea especially if the volume would be high, but in other industries it is not possible and in this case the lump sum payment would potentially be more desired. Some designers could also sell their designs as a hybrid of royalty and lump sum payments, but to do so, you need to be relevantly famous with a proven track record of designs with market success.

Keywords: intellectual property, design mediation, design sales, design pricing, design price

The following questions could be related:

• #272: Our company usually uses a picture, which isn't created by us, but we have got rights to use it as we bought the image. Can we upload this image to as a part of our project presentation to A' Design Award?
• #309: Will the intellectual property rights of the designer be protected as a result of the submission of the design?
• #340: I have submitted my design. But I haven't got a patent yet. Is it safe (my design will not be stolen) if I submit my design? If there is a risk for me losing the patent of my design, I might think again before joining the competition?
• #341: Can I join the design award competition without a patent?
• #456: I have an award winning work, will the design award cover the cost of my international patent application?
• #509: What are the difference between patents and copyright for the costs and duration?
• #510: Can I take someone else photo or design and use in my design or work?
• #511: Is my design protected by copyrights?
• #514: How do I prove that I am the original photographer of the photo? How do I prove that a photograph was taken by me?

If you did not find your answer, please feel free to check the faq pages for more questions and answers. You will also want to check our webpage for details; thanks to our transparency policy, we document and publish everything.