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    1 Reply Latest reply on Jan 15, 2012 12:21 PM by LUCKIEST

    Partner compensation

    majesticind Wayfarer

      I am starting a new project. The concept is mine and I am putting up all the capital. The man who does web site and platform design for me on other projects would prefer a percentage of the buiness to cash compensation for his worrk. We are talking about 10k to 15k done. He will be handling some day to logistics and is a helpful man to bounce ideas off but will probably bring in no income. If I go the percentage route what would be fair for both of us.

      Thanks, Rick

        • Re: Partner compensation
          LUCKIEST Guide

          Good question. If you and this man want to be partners, You need a partnership agreement.

          A partnership agreement includes

          Name

          Purpose

          Duration

          Contribution by partners

          Compensation of partners

          Division of profits

          and many other factors.

           

          A lawyer would be a good start.

           

          Good luck, LUCKIEST