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Missfits supports Creatives by licencing selected Artworks for use on our products. Artists agree to allowing their images to be reproduced in exchange for royalty payments.
When you license your artwork, you retain legal ownership of the work. This means that you keep your copyright or design patent, while Missfits makes and sells products featuring your artwork , duplicating your imagery on merchandise.
In return for granting the license, you receive a royalty, which is a continuing payment (on a monthly basis), based upon a percentage of the income from the licensed artwork. You can withdraw from this agreement at any time without penalty.
Missfits operates using a Print on Demand Business model. This means that our products are only manufactured once a customer has paid for the item.
Licencing your work does not guarantee that your will receive any revenue.
It is in our best interests to present your work in a way that
a) does not undermine your art in any way
b) presents a product that is likely to sell
When you enter into an agreement with us, you are granting permission for us to use your art on any and all of our product range - at our discretion.
This includes Canvas Prints and Art Prints, which have a higher royalty rate.
Missfits uses Mockup Images to sell products. If you are unhappy with how we use your work on a particular product - please let us know immediately and we will withdraw the product from sale and work with you to get it right if we can..
Transparency and Reporting
We are currently developing a way for Artists to view their sales in real time - in the interim we send a weekly report verified by Shopify showing total sales numbers.
You can request an update at any time - email firstname.lastname@example.org
Like many legal areas, licensing involves a good amount of jargon.Below are some definitions.
"Gross sales" refers to the total amount billed to customers who buy the product containing the licensed artwork. "Net sales" are usually defined as the licensee's gross sales minus certain deductions. In other words, the licensee calculates the total amount billed to customers and deducts certain items, such as the costs of goods, before calculating and paying the royalty.
Deductions are subtracted from sales before the royalty is calculated. It is ordinarily acceptable for a licensee to deduct from gross sales any amounts paid for taxes, credits, returns, and quantity discounts made at the time of sale. It is also not unusual for a licensee to deduct shipping (the cost of getting the products to the buyer).
Royalty rates. Royalty payments are computed by multiplying the royalty rate against net sales.
Missfits pays a royalty rate of 50%
We pay royalties out after a minimum of 1 week has passed since the physical delivery of the product - in case there are returns.
Payments are made on 1st month via bank transfer or Paypal
Calculated from 20th - 20th of each month
You are responsible for your own tax payments
A royalty rate of 50% multiplied by net sales of $1,000 equals a net sales royalty of $500.
The net sale figure is calculated as follows
Cost of the base product
% cost for Marketing (max of 9%)
Art Licensing Royalty Average is 6.4% (Industry Royalty Average is 8.3%)