Legal/Payment Glossary for Freelancers and Copywriters

Photo by Sandy Millar on Unsplash

General Terms

Campaign

Control

Package

Promotion

Payment Structures

Bonus

  • Do not meet objectives: No bonus
  • Meet Revenue Objectives: Bonus of $50,000
  • Exceed Revenue Objectives by 50% or more: Bonus of $75,000
  • Exceed Revenue Objectives by 100% or more: Bonus equal to 10% of net revenue (less course/program refunds)”

Flat Fee

Retainer

Royalty

Payment Schedules

Kill Fee

  • 10% if you’ve given a go-ahead and then cancel before we have started work
  • 25% if you cancel and we have done research but haven’t submitted creative
  • 50% if we have submitted outline or ideas but have not submitted a draft yet
  • 100% of bill due if you cancel and we have already submitted a draft”

Refund Schedule

  • 90% refunded to you if you’ve given a go-ahead and cancel before we have started work (100% refunded if contractor cancels at this stage)
  • 75% refunded if you cancel and we have done research but haven’t submitted work (100% refunded if contractor cancels at this stage)
  • 50% refunded if we have submitted an outline or product framework but haven’t yet submitted a draft
  • 25% refunded if we have submitted first draft but not done a revision
  • No refund shall be offered if the project is cancelled and we have already submitted a draft and done one or more rewrites”

Performance-based schedule

Time-based schedule

Upfront Payment

Client KPIs

COGS

Gross Sales

LTV

Net Sales

Refund Rate

Contract Clauses

Copyright

Indemnity

Revision Window

Rounds of Revisions

Scope of Work

Beyond the Glossary

  • TEMPLATE: Standard Freelancing Agreement
  • TEMPLATE: Retainer Agreement
  • TEMPLATE: Nondisclosure Agreement (NDA)
  • TEMPLATE: Collaboration/JV Agreement
  • CHECKLIST: 10 Elements every freelance agreement needs
  • GLOSSARY: Payment and Legal Terms For Freelancers
  • VIDEO: Legal Foundations for Freelancers with Attorney Gordon Firemark
  • VIDEO: How to draft legally-binding plain-language agreements with Attorney Jacqueline Horani
  • RECOMMENDATION: The Freelance Co-op approved attorneys and how to work with them (free consults available)

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Been a direct response copywriter since 7th grade when I wrote a 30-page sales letter asking my crush to the dance. freelancecoop.org

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Abbey Woodcock

Abbey Woodcock

Been a direct response copywriter since 7th grade when I wrote a 30-page sales letter asking my crush to the dance. freelancecoop.org

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