I just got asked by someone to buy one of my designs to put on t-shirts/clothing. it's a design I've already finished,and the character and image belong to me, they just want the rights to use the image.
How do I handle something like this? Can I just give them the rights to it for their use, and keep the right to use it again myself, or do I sell it away exclusively to them?
I'm not sure what the norm is, but I was thinking I should ask for a straight fee and then maybe 5% royalties. Does that sound fair? Or should I just go without asking for royalties? They are a small company just starting up, so I don't think I'm looking at a lot of money either way. How much should I ask for? I like the character and I'd like to be able to use him in the future, but it's not terribly important to me. I'm so confused!!
If anyone has experience with this kind of thing, please give me any information you're willing to. I'm grateful for any help I get.