Take the guesswork out of product development and sales with these tips from folks who are doing it.

By Susie Boghosian and Jinny Fleischman

The two parties sign a contract specifying what say, if any, the nonprofit has in product development and quality-control parameters, what approval rights it has, and where the products are to be sold. The upside for the nonprofit is that it can get products at a relatively low cost, but there’s still a cost to the organization for personnel to support the requests/needs of the licensor. For such a program to succeed, both the licensor and licensee have to be committed to it.