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Fee for Structural Design on Manufactured Product

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I've been approached to design the housing and mounting brackets for a
product that will be manufactured.

The design effort is modest (3 days, tops).  But the continuing liability
on *all* those products is giving me pause.

My inclination is to propose a continuing fee (for perhaps 3 years) based
on a percentage of sales of this product.

Do you think this is the correct approach?  If so, any ideas on percentage?
 If not, any other suggestions?


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