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My mother has been approached by several local restaurants interested in buying one of her recipes. How much does a recipe typically sell for?
3 ANSWERS
Intellectual Property Attorney serving South Jordan, UT
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Pearson Butler
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It would depend a lot on the recipe and how much business the recipe is likely to attract for the restaurant. Also, it would be important that the recipe be kept secret and that you agree to keep it secret from competitors. Since you have several local restaurants interested, your best bet may be to do some kind of auction. That way you sell it to the one who values it the highest.
Answered on Jun 22nd, 2015 at 11:26 AM
There is no standard price. It's up to the two parties to negotiate a deal. The price for the exclusive rights to a recipe would be higher than for non-exclusive rights. The price could also be a flat one-time payment or a percentage of sales for a defined period of time. The price will also be higher if this is a recipe for a popular dish that the restaurant really wants to include on its menu.
Answered on Jun 19th, 2015 at 9:14 AM
Appellate Litigation Attorney serving Boston, MA
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Banner & Witcoff, Ltd.
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Name your own price! There is no set value for a recipe. Let the other side make the first offer - if it is high enough - SELL.
Answered on Jun 19th, 2015 at 9:00 AM