Help w/ licensing Agreement

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I have created a formula for a food product that mimicks a well established food service (resturants, etc) staple that so far isn't easily available to average households (similar in context to ice cream before you could buy it in supermarkets or groceries). A large company has shown some interest and we are just begining to investigate the possiblity of a licensing agreement. I would like to know whether the following concerns can be addressed satisfactorily in a licensing agreement since the product is not patentable and the formulation can easily be reformulated or changed:

Can the agreement require the licensee to pay me a royalty for as long as they produce this kind of product (it's original now, but will be knocked off by competitors fairly quickly)? At present all I have is a confidentiality agreement for protection.

Can we make the term of the agreement open-ended or never-ending, e.g., "for as long as they produce this kind of product"?

The company is in Canada and will be selling to the Canadian market. Is it important that the licensing agreement be under the jurisdiction of US law? I suspect they will strongly prefer Canadian law.

Thank you so much for any advise. Naturally, I will consult an attorney when the time comes, but I'm too concerned to sleep regarding the first question especially. My resources are rather tapped

 

[DAVIDL]

You are just wasting your time trying to get any free advice on this website. You may as well spend your time looking for the sasquatch. Lawyers do not like to give out "free" information. They are like sharks, out patroling for the smell of blood: only in this case it is money. If you got any advice on this website, you would be "advised" to consult them, and of course pay them the big bucks.