Please read the agreement in full before accepting.
Idea Revenue Share Agreement
This Agreement sets out the revenue share arrangement between the person providing the idea (the “Proposer”) and BigSmile (trading as Rani SNS, founder Jungran Jang, the “Studio”), which builds, publishes and operates products based on that idea.
Article 1 (Purpose)
The purpose of this Agreement is the fair division of revenue arising where the Studio, at its own cost and risk, implements and publishes the Proposer's idea as a product (an app, website or similar).
Article 2 (Definitions)
- Idea: the product concept, plan or design provided by the Proposer to the Studio.
- Product: the app, website or other product built by the Studio on the basis of the Idea, together with its associated assets.
- Net Profit: the total revenue generated by the Product less the costs set out in Article 5.
Article 3 (Provision and selection of the Idea)
- The Proposer provides the Idea to the Studio and warrants that it is truthful and their own.
- The Studio decides at its sole discretion whether to take on the Idea and is under no obligation to do so.
- The revenue share provisions of this Agreement take effect only where the Studio has selected the Idea and has actually built and published it.
Article 4 (Building and publication)
The Studio plans, develops, designs, publishes, operates and maintains the Product at its own cost and risk. The Studio determines the method of production, the schedule, the technologies used and the distribution channels.
Article 5 (Calculation of Net Profit)
Net Profit is calculated by deducting the following costs from the Product's total revenue (advertising revenue, in-app purchases, subscriptions and all other income).
- App store and payment processing fees charged by Google, Apple and others
- Taxes and public duties, including value added tax
- Direct operating costs such as servers, domains, third-party APIs and SDKs
- Advertising and marketing costs spent directly on that Product
Article 6 (Division of revenue)
The Net Profit under Article 5 is divided 50% to the Proposer and 50% to the Studio.
Article 7 (Settlement and payment)
- Settlement is carried out monthly, and the Studio pays the Proposer's share into the account nominated by the Proposer by the end of the following month.
- The Studio provides the Proposer with transparent revenue and cost records, and the Proposer may request to inspect the supporting materials within reason.
- Payment may be delayed for reasons outside the Studio's control, such as delayed store settlements; in that case payment is made without delay once received.
Article 8 (Intellectual property)
- All intellectual property in the Product — source code, design, trademarks, copyright and the like — belongs to the Studio.
- Both parties acknowledge that an idea in itself is not subject to exclusive legal monopoly. This Agreement does not guarantee exclusivity over the Idea; it governs only the division of revenue from a Product that has been selected and built.
Article 9 (Warranties and liability)
- The Proposer warrants that the Idea does not infringe the intellectual property or other rights of any third party, and bears responsibility for any dispute arising from a breach of this warranty.
- The Studio does not guarantee the success of the Product or any particular level of revenue. If no revenue arises, there is no amount to divide.
Article 10 (Confidentiality)
Neither party shall disclose to any third party the other party's non-public information learned in connection with this Agreement or the Idea.
Article 11 (Progress visibility)
The Studio shall make the progress stage of the Proposer's submission (received, under review, accepted, in production, launched, revenue share and so on) together with any public notes left by the Studio visible to the Proposer while signed in. Progress indications are for information only and do not guarantee any particular schedule or outcome.
Article 12 (Term and termination)
This Agreement is effective from the date of signature until the Product is discontinued. If one party materially breaches this Agreement and fails to remedy the breach within 14 days of being asked to do so, the other party may terminate by written notice (including by electronic means). The obligation to divide revenue arising before termination survives.
Article 13 (Governing law and jurisdiction)
This Agreement is construed under the laws of the Republic of Korea. Disputes shall first be addressed through discussion; failing agreement, the court with jurisdiction over the Studio's address shall have first-instance jurisdiction.
Article 14 (Effect of electronic signature)
The Proposer's electronic acceptance and signature of this Agreement have the same effect as a handwritten signature or seal under Korea's Framework Act on Electronic Documents and Transactions.
Article 15 (Language)
Where this Agreement is provided in more than one language and the versions differ in interpretation, the Korean version prevails.
Note: this Agreement is a standard template. Where the matter is significant, we recommend obtaining professional advice before signing.