Selling Source Code

[Spacecadet]

Does anyone have any experience in selling source code including all rights to the software?
I'm not exactly sure where to start on this one.

[doodab]

For a single client this is quite normal, just make sure the contract says they own the IP and the source code becomes their property.

If you are selling the source code to multiple clients then you want some sort of non exclusive license agreement, probably restricting some rights like distribution and resale etc.

If they don't actually need the source code but want it as insurance in case you go bust then you can look at an escrow arrangement.

[Spacecadet]

For a single client this is quite normal, just make sure the contract says they own the IP and the source code becomes their property.

Thanks for that - i was hoping to go down the route of a one time sale to a larger company who might be better placed to place the software into a commercial space.

The problems I face are:
1. Approaching suitable buyers in a suitable manner
2. How to conduct the bidding/pricing process (personally I'd like to have a fixed window in which I can accept bids and then accept the highest bid)
3. How to allow the potential buyer to coduct due diligence without exposing the source code.
4. how to run everthing in a timely fashion, if it drags on for too long then a potential buyer may get fed up and just build it themselves.