London
15 March 1843

Dear M^lle

While I was in the Country, I could consult nobody, but since I came to Town I have conversed with one of the principal Patent Agents, and I asked him the following question: after mentioning the proposed formation of a Société en Commandite at Paris. Shall I be responsible in any way for the debts of the Society, in the event of want of success? To which he replied, No - according to the French law; but yes, according to the English law - If the Society were to incur any debts in England, I should be responsible - I then asked him what arrangement he would recommend in order to avoid that risk of responsibility - To which he replied, that all such risk would be avoided by adopting the plan which is generally followed in England, namely, by not agreeing to receive any portion of the profits of the undertaking but to receive a percentage upon all the receipts of the company, received by them from the public - This is the usual custom in England - I asked him whether it was also a French custom. He informed me it was so, to his knowledge, and that some of his clients had made similar arrangements at Paris. As it is admitted by the Marquis de B. ^<1> and his friends, that I ought not to be burdened with any responsibility whatever, I am desirous that the arrangement should be made upon the principle which the Patent Agent advises - I have since deliberated upon the matter, and it appears to me that the revenue of the Society will be derived from various sources, which may however be classed under three principal heads, namely,

1º. sale of the prepared paper

2º. sale of the finished Calotype pictures ^<2> - Albums full of d^o - and Calotype portraits.

3^o. sale of chemical liquids, & apparatus of all kinds necessary to persons practising the Calotype.

Now with regard to these 3 different classes of objects, the profits of the society will be very different in amount. The paper may be prepared so cheaply that almost the whole of its selling price may be considered profit. (say however 90 per Cent)

The profits on N^o 2 might be judged at 50 or 60 per cent. Those on N^o 3 at 15 or 20 per cent. I propose then that the Society should give me (with respect to these 3 different classes of objects) a percentage upon all sums received: namely, upon n^o 1. One third (or 33⅓ per C^t) upon n^o 2. - 25 per cent, or one fourth. upon n^o 3. - nothing

I believe that this arrangement will not be very different (in its pecuniary results) to that proposed by the society - and it will be more agreeable to me because such an arrangement would not be a Partnership according to our law; the other would be. You will understand, that I should have nothing to do with any expenses or disbursements of the society, and these would not even be mentioned to me in the accounts. The percentage would be taken on the receipts -

I am afraid you will be ennuyée ^<3> with these details but I have endeavoured to be as brief as possible. - I suppose the Marquis de B. has left Paris, but if not, I should wish the above propositions to be submitted to him, or if he is gone, to his friends -

I remain Dear M^lle Yours most truly
H. F. Talbot

Mad^lle Amélina Petit
rue de Provence N^o 22
Paris

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Notes:

1. Hugues Antoine Joseph Eugène Maret, Marquis de Bassano (1806-1889), photographic entrepreneur, Paris.

2. By this, he means prints from the calotype negatives. 'Finished' might apply to trimming and mounting - later, hand tinting of the prints was attempted, but to nobody's satisfaction.

3. Bored.