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If I have given my word on something, I will make it happen.
It doesn't have to be about you cheating him. On a certain project I have signed a contract with my own father who, needless to say, would rather cut off his right arm than trick me. It is simply a wise move. Some time in the future some yet unknown interested third party might get involved and then try to dispute your ownership of the product. It is a way to protect you both.
You are entering a financial world governed by laws and regulations, act accordingly.
-----------------Always look on the bright side of Life!
Mr. Bryant wrote: >Good to know there is someone willing to make a judgment based on so little information...
Mr. Davis had said this was a "commercial project." That information was important, if perhaps misleading or overstated. Besides, for a game producer or businessman, being judgmental is a good thing.
>The agreement is for a percentage of revenue. The target may be commercial (app store), but there are no companies involved here. >In my opinion, the nature of this kind of online team is that there are no guarantees. I'm a proponent of the "gentleman's agreement" mentioned by swiftcoder. If I have given my word on something, I will make it happen.
Money may not have exchanged hands yet, but the plan is for money to exchange hands at some time in the future. Contracts serve a very useful purpose; they set forth the duties, responsibilities, and warranties of both parties. In other words, they clarify expectations. Signing an agreement also shows a certain degree of commitment to a joint venture. You and Mr. Davis should read what I wrote about collaboration agreements at http://www.sloperama.com/advice/article58.htm, and you should also read what Mona wrote about them at http://www.underdevelopmentlaw.com/
But whether or not you all execute an agreement, you're all sure to learn a lot from this little venture.
