[LB030052], Agreement, Thomas Alva Edison, Edison Phonograph Toy Manufacturing Co, May 24th, 1889


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[LB030052], Agreement, Thomas Alva Edison, Edison Phonograph Toy Manufacturing Co, May 24th, 1889

Editor's Notes

Edison to give license for [fore?] countries, covering all exist inventions and improvements, pertaining to speaking dolls, and all future inventions and improvements made during which five (5) years, giving exclusive rights 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 substantially in form submitted granting exclusive rights 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 percent (20%) of the shop price of movements to be paid Edison. Edison to have one eighth (1/8) of the capital stock of Phono. Co. and this [proper?] to be maintained with respect to any further increase so long as Edison retains the stock so issued to him. Edison to have one representative on Toy Phone Co.'s Boards so 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 Phone Co. to submit to him copies of all agreements which have been made [unclear] relative to foreign countries.




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