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How to charge for a software program

By vbkoder ·
Does anyone know where I can find information on formulas that will give a way to price a software program. I have been asked by an individual to create a program that he can use in his contractor business as well as sell it to other's in his line of work. He has given me the idea he has and any formulas he uses in his work. He wants it more automated and has a long list of things he wants the program to do. I think according to copyright law, he has ownership. I was thinking I could keep the copyright and give him exclusive license to use and sell the program. How do you figure compensation when he will probably be making good money in selling the product. Any information would be helpful. Thanks

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