Terms / Glossary / Definitions
The Syndicate
The Syndicate is the collection of all the idea hatchers, developers, designers, technical project managers, marketers, and funders. When you submit an idea or work an app you become part of the Syndicate. Joining the Syndicate gives you access to our processes, list of App ideas and your individual profit shares. Syndicate memebers do not have ownership in the company—ownership is reserved for Syndicate Sentinels.
The Syndicate Sentinels
The Sentinels are the gatekeepers of the Syndicate. There are currently two people in this role and they are responsible for interviewing and reviewing portfolios to add people to the Syndicate as well as controlling all quality of design and development for an app launch.
They also pay the bills, run the company and take out the trash.
Profit Shares
Each person involved in the creation of an app is awarded profit shares.
All shares are agreed upon before work begins.
There are a total of 100 shares per app to be divided among the idea hatcher, developer, designer, technical project managers, marketer, funder, The Syndicate and our parent company.
Syndicate Coffers
They Syndicate Coffers is the bank account where money is held to be paid out towards monthly payments, annual payments or annual dividends.
Monthly Minimums
The minimum dollar amount your stock options must earn to be eligible for payment.
The monthly minimum is $20 to receive payment.
Stock options that do not meet the monthly minimum are held in the Syndicate Coffers and put towards the annual minimum.
Annaul Minimums
The minimum dollar amount your stock options must earn to be eligible for payment.
The annual minimum is $50 to receive payment.
Stock options that do not meet the annual minimum are returned to the Syndicate Coffers and put towards the Annual Dividend.
Annual Dividends
At the end of the year the Syndicate pays our Annual Dividends. These funds are gathered from all the leftover money that didn't meet minimums + funds that are contributed to the Syndicate Coffers as part of every app sell.
Annual Dividends are awarded based on the number of total stock options you own.
The Annual Dividend minimum is $50 to receive payment.
Payment Options
Currently the only payment option is to receive a check in the mail—old school style.
App
A complete piece of software and packaging. Generally refers to a mobile application specifically for the iPhone sold through iTunes.
Intellectual Property
The ideas, renderings, and processes developed in conjunction with the Salt Mine Syndicate. Once an App is submitted to us the idea and execution become our property.
You can read more about Intellectual Property on Wikipedia.
Copyright
Once an idea is produced and is in tangible form the Salt Mine Syndicate owns the final product and the copyright to that product. The Salt Mine Syndicate may sell, trade or give away the copyright to the product at our discretion.
You can read more about Copyright on Wikipedia.
Privacy Policy
The Salt Mine Syndicate will never share, rent, give away or in any way let your information be used outside of The Syndicate. We'll only use your email address to contact you about what's going on with The Syndicate.
Developers
Developers are the people that write the code to get an App produced.
Designers
Designers are the people that design an App's look and feel, including the icon, user interface and marketing materials.
Technical Project Managers or TPM
Technical Project Managers (TPMs) are the people that keep the process moving and on track. They are responsible for sitemaps, wireframes and documentation.
Larger Apps that include ancillary pieces such as websites and databases are planned out in Gantt-chart style. Our preferred program for creating project plans is Omniplan.
Idea Hatchers
Idea Hatchers are the people that come up with an idea.
Marketers
Marketers are the people that market the App on iTunes, social media sites (facebook, twitter, linkedin, etc) and field customer service inquiries.
Funders
Funders are an optional part of the Syndicate. Funders can contribute cash to a certain App to help push it through the process or to the Syndicate in general to be eligible for shares and annual dividends.
Sitemaps
Sitemaps are generally created by the TPM but are often created by the idea hatcher, designer or developer. Sitemaps show the flow of different screens in the App. These are shown in outline format and our preferred program for creating them is Omnigraffle.
Wireframes
Wireframes are generally created by the TPM but are often created by the idea hatcher, designer or developer. Wireframes are line drawing representing the screens needed to build an App.
Mockups
Mockups are generally created by the designer. Mockups are based on wireframes and show static images representing how the final App will appear.
Syndicate Build Process
The Syndicate Build Process is our proprietary set of steps to build and market an app. We have been building products for years (websites, enterprise-level information management systems, software tools, etc) and have a best-practices set of rules we follow. We are always looking for ways to refine the process for adding efficiency. When you join the Syndicate you will be responsible for following and contributing feedback to the process.
