Partner ship in selling a product
Suppose you worked with a partner on a game. Now the game is done and you want to sell it on the internet. My question, how would you split between you the profits? Are there internet selling services (like paypal) that support on splitting the profit between two different persons? Do they support tracking of the same one product to more then one account, person? How would you split proifts with a partner? I would appreaciate help on this matter. Thanks in advance.
It's all about the wheel.Never blindly trust technoligy.I love my internal organs.Real men don't shower.
Quote:
Original post by Toolmaker
Quote:
Original post by The C modest godHow is my improoved signature?It sucks, just like you.
Usually, you will work these details out BEFORE you do a lot of work on the product, and agree in writing.
Typically, you'll create some kind of shared entity (ideally, a C or S corporation), and have the money disbursed to that entity, and the entity split the money to the partners after filing proper taxes etc.
If you don't want to set up a corporation, you can probably swing it as a sole proprietorship where one of you front the business, file the paperwork, and disburse the money. I suggest you pick the person with more attention to detail and more available time. I also suggest you pick a person of legal age to enter into contracts in your home state ;-)
I'm sure you both trust each other, but it's standard to put provisions into these contracts where all partners can bring in outside counsel (at their expense) to audit the business. This means that anyone who handles the money MUST keep and maintain good records about what comes in, and what goes out, where. If you don't, you might be criminally liable under fiduciary duties statues (check your state law or ask a legal professional).
I suggest picking up a book or two, such as the Indie Game Developers Survival Guide or similar, and maybe a "start your own business" book tailored to your specific state laws. Some of these books might be availble at your local library.
Typically, you'll create some kind of shared entity (ideally, a C or S corporation), and have the money disbursed to that entity, and the entity split the money to the partners after filing proper taxes etc.
If you don't want to set up a corporation, you can probably swing it as a sole proprietorship where one of you front the business, file the paperwork, and disburse the money. I suggest you pick the person with more attention to detail and more available time. I also suggest you pick a person of legal age to enter into contracts in your home state ;-)
I'm sure you both trust each other, but it's standard to put provisions into these contracts where all partners can bring in outside counsel (at their expense) to audit the business. This means that anyone who handles the money MUST keep and maintain good records about what comes in, and what goes out, where. If you don't, you might be criminally liable under fiduciary duties statues (check your state law or ask a legal professional).
I suggest picking up a book or two, such as the Indie Game Developers Survival Guide or similar, and maybe a "start your own business" book tailored to your specific state laws. Some of these books might be availble at your local library.
enum Bool { True, False, FileNotFound };
This topic is closed to new replies.
Advertisement
Popular Topics
Advertisement
Recommended Tutorials
Advertisement