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Others will answer this question far more ably than I (I have not licensed via a distributor - and am a relative newbie myself).  However, as I see it:

 

Pros: more outlets to sell to (easier access to local markets)

Cons:  lower commission (and possibly lower prices in developing countries?)

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When I got a $950 distributor sale last month, I was a lot more positive than before ;-)

Alamy and I got the same $280 and the distributor the rest ($380). Would I have wanted it the other way around? Of course. But maybe not that realistic.

 

wim

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