[D8964ABA1], Memorandum, Edison Phonograph Toy Manufacturing Co, May 24th, 1889


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[D8964ABA1], Memorandum, Edison Phonograph Toy Manufacturing Co, May 24th, 1889

Editor's Notes

Copy. Edison Phonograph Toy Mfg. Co. May 24, 1889. Edison to give license for foreign countries, overseeing all existing inventions and improvements pertaining to speaking dols, and all future inventions and improvements made during next five (5) years, giving exclusive right to manufacture and sell and to license others to manufacture and sell, but not assignable, for any country, without consent in writing of Edison. Simultaneously the Company gives Edison a contract, substanially in form submitted, granting exclusive right to manufacture for sale in foreign countries, for the life of the license referred to. Edison cannot assign this manufacturing contract except to a corporation in which he retains full voting control. A royalty of twenty per cent (20%) of the shop price of movements to be paid Edison. Edison to have one-eighth (1/8) of the Capital stock of Toy Phono. Co. and this proportion to be maintained with respect to any further increase so long as Edison retains the stock so issed to him. Edison to have one representative on Toy Phono. Co's Board long as he can qualify. Cash now in Company's treasury not to be used to settle Madden-Gilliland claim, and Edison's holding of stock to be at least 40% greater than the number of shares issued to M. & G. or sold to settle their claim. Before formal contract is made with Edison, Toy Phono. Co. to submit to him copies of all agreements which have been made by it relative to foreign countries.




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Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University
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