Pitfalls?
Matt
Matt
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What name is pr0 / Untouched Markets using these days? Untouched Markets - pr0 - Refund My Money Now
Someone owes me $2,000 because they didn't do any work that was paid for *pointing at pr0 / William / UntouchedMarkets*
See http://www.gfy.com/showthread.php?p=16744521 and for more detailed see http://www.gfy.com/showthread.php?t=948645 -
If you own less than 51% you are SOL.
Regards,
Lee -
SOL?
Partnership that's 50/50
MattWhat name is pr0 / Untouched Markets using these days? Untouched Markets - pr0 - Refund My Money Now
Someone owes me $2,000 because they didn't do any work that was paid for *pointing at pr0 / William / UntouchedMarkets*
See http://www.gfy.com/showthread.php?p=16744521 and for more detailed see http://www.gfy.com/showthread.php?t=948645Comment
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shit outta luckwe'll miss you our friend. RIPComment
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Shit out Of Luck.Originally posted by Nysus
SOL?
Partnership that's 50/50
Matt
Partnership are not always 50/50 btw ;)
If you have more to bring to the table than the person you are going to be partnering with you make sure you own a larger percentage of the business entity.
You could have a 99/01 partnership for all intents and purposes
Regards,
LeeComment
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True, but how do you determine that when it's ideas? My thoughts are you pretty much can't?Originally posted by European Lee
Shit out Of Luck.
Partnership are not always 50/50 btw ;)
If you have more to bring to the table than the person you are going to be partnering with you make sure you own a larger percentage of the business entity.
You could have a 99/01 partnership for all intents and purposes
Regards,
Lee
MattWhat name is pr0 / Untouched Markets using these days? Untouched Markets - pr0 - Refund My Money Now
Someone owes me $2,000 because they didn't do any work that was paid for *pointing at pr0 / William / UntouchedMarkets*
See http://www.gfy.com/showthread.php?p=16744521 and for more detailed see http://www.gfy.com/showthread.php?t=948645Comment
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Is it YOUR idea? If so then you are automatically taking more to the table from the get go.Originally posted by Nysus
True, but how do you determine that when it's ideas? My thoughts are you pretty much can't?
Matt
Regards,
LeeComment
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Some people don't value ideas, or at least don't want to give up equal % to the idea holder.Originally posted by European Lee
Is it YOUR idea? If so then you are automatically taking more to the table from the get go.
Regards,
Lee
MattWhat name is pr0 / Untouched Markets using these days? Untouched Markets - pr0 - Refund My Money Now
Someone owes me $2,000 because they didn't do any work that was paid for *pointing at pr0 / William / UntouchedMarkets*
See http://www.gfy.com/showthread.php?p=16744521 and for more detailed see http://www.gfy.com/showthread.php?t=948645Comment
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Thats their problem NOT yoursOriginally posted by Nysus
Some people don't value ideas, or at least don't want to give up equal % to the idea holder.
Matt
If you find one person who wants to partner with you, you'll be able to find more.
Regards,
LeeComment
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That's a crock of shit. We from joint ventures/partnerships all the time in the mainstream world. If someone has an idea and not the funds, infrastructure, or resources to make an idea turn into a product/service, there is no way he/she is bringing more to the table. Having an idea doesn't automatically mean the person should have control.Originally posted by European Lee
Is it YOUR idea? If so then you are automatically taking more to the table from the get go.
Regards,
LeeLast edited by JakeR; 11-15-2004, 04:50 PM.Adult Merchant Accounts & Chargeback Management Solutions
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Ideas are a dime a dozen. Money, resources, real working knowledge are not. What are you talking about?Originally posted by European Lee
Is it YOUR idea? If so then you are automatically taking more to the table from the get go.
Regards,
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amenOriginally posted by Sly
Ideas are a dime a dozen. Money, resources, real working knowledge are not. What are you talking about?we'll miss you our friend. RIPComment
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I have 3 partners in my current venture and it is understood that being the one who came up with the idea and will be doing most of the work I have the majority share. I have one partner at 20%, one at 15%, and one at 10%, I retain 55% for myself for the life of the business. The expenses however are paid as such as well. Each partner only pays his percentage of the earnings on expenses, leaving me with the greater income, and yet the greater part of the expenses as well. Its fair and everyone seems happy with it.Comment
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Obviously it depends on how much you are willing to sell-out your idea for.Originally posted by JakeR
Having an idea doesn't automatically mean the person should have control.
As for me, ive never partnered with anyone using one of my ideas / concepts for less than 51%.
As i mentioned earlier.. partners, if you have a solid idea are a dime a dozen. If someone wants more control than 51%, then we move on to the next person
Regards,
LeeComment
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Money, resources, working knowledge are also a dime a dozen if you have a solid idea / concept. Unless you dont know enough of the 'right' people of courseOriginally posted by Sly
Ideas are a dime a dozen. Money, resources, real working knowledge are not. What are you talking about?
Regards,
LeeComment
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Corporation is the way to go. Partnerships are for suckers.Comment
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Even corporations have some kind of partnership foundation to them.Originally posted by pornJester
Corporation is the way to go. Partnerships are for suckers.
We have 7 C Corps right now we own 3 of them outright, the others were formed as part of a partnership deal we have with other people.
Regards,
LeeComment
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I was mostly wondering how people deal with non-compete and non-disclosure and such, since a lot of ideas / intellectual property gets thrown around and nobody would want anyone else to use those ideas / thoughts on outside projects.
How do you deal with that? A basic non-compete doesn't seem possible.
MattWhat name is pr0 / Untouched Markets using these days? Untouched Markets - pr0 - Refund My Money Now
Someone owes me $2,000 because they didn't do any work that was paid for *pointing at pr0 / William / UntouchedMarkets*
See http://www.gfy.com/showthread.php?p=16744521 and for more detailed see http://www.gfy.com/showthread.php?t=948645Comment
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Depending on the idea/concept your lawyer should be able to draw up a NDA that is legally binding in most of the States.Originally posted by Nysus
I was mostly wondering how people deal with non-compete and non-disclosure and such, since a lot of ideas / intellectual property gets thrown around and nobody would want anyone else to use those ideas / thoughts on outside projects.
How do you deal with that? A basic non-compete doesn't seem possible.
Matt
We usually have a new NDA written for each business idea that way we can be sure that the NDA is not only legally watertight but that the NDA is current.
Regards,
LeeComment
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It all depends...partnerships are like marriages....need much love or money to stay alive
Comment
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Is it bad to start off with tainted love though? I think being bitter about anything will make for a very un-fun 'marriage' and could destroy someone..Originally posted by Lykos
It all depends...partnerships are like marriages....need much love or money to stay alive
MattWhat name is pr0 / Untouched Markets using these days? Untouched Markets - pr0 - Refund My Money Now
Someone owes me $2,000 because they didn't do any work that was paid for *pointing at pr0 / William / UntouchedMarkets*
See http://www.gfy.com/showthread.php?p=16744521 and for more detailed see http://www.gfy.com/showthread.php?t=948645Comment
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partnerships are very funny because the amount of work putting into doing things is a perception.
to one person they are doing all the work, to the other person, its normal workload.. all perceptions.
best advice.. do it all your self, no employees, keep ALL the money ;)Looking to speak w/ high volume nutra CPA affiliates or networks... msg me
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Yeah - It's hard to do that when things were unclear to begin with.Originally posted by robfantasy
partnerships are very funny because the amount of work putting into doing things is a perception.
to one person they are doing all the work, to the other person, its normal workload.. all perceptions.
best advice.. do it all your self, no employees, keep ALL the money ;)
MattWhat name is pr0 / Untouched Markets using these days? Untouched Markets - pr0 - Refund My Money Now
Someone owes me $2,000 because they didn't do any work that was paid for *pointing at pr0 / William / UntouchedMarkets*
See http://www.gfy.com/showthread.php?p=16744521 and for more detailed see http://www.gfy.com/showthread.php?t=948645Comment
Comment