For first-time hardware entrepreneurs, fulfillment and logistics are often not the first thing on the radar. But after navigating the waters of selecting a factory and manufacturing, a critical piece of the puzzle is getting your product in your customers’ hands.
Our friends over at Flexport are doing amazing things to simplify the fulfillment process and have been kind enough to share some key learnings with the Dragon community. Below are the first in a series of articles from the Flexport blog.
“In today’s global business environment, it has become increasingly challenging for companies to manage compliance within many different countries. In particular, general trade management and trade processing (e.g. under China’s bonded zone operations) in China have become very difficult.” Read more.
“It’s important that importers understand the concept of a ‘customs assist’ to make sure they value their imported products correctly. Failing to account for customs assists that the importer has contributed to the manufacture of their products can mean reporting a lower valuation and therefore underpaying Customs duties. In other words, getting it wrong can mean trouble with U.S. Customs and Border Protection, the last thing an importing business needs.” Read more.
“Royalties are usage-based payments from one party (a ‘licensee’) to another (the ‘licensor’). Licensing fees are paid as part of an agreement that defines the terms under which a tangible property is licensed for use by one party (a ‘licensor’) to another (the ‘licensee’).” Read more.
Flexport is a licensed customs brokerage and freight forwarder built around a modern web application. We’re building an online dashboard for businesses to easily understand, purchase, manage and track the services required for global trade. Our team of logistics experts lets you focus on your core business by ensuring goods arrive to fulfillment/distribution centers on time and at the lowest cost.