[thelist] Developer/Partnership Agreements....

Bob Haroche spambait at onpointsolutions.com
Thu Jul 31 10:11:26 CDT 2003


> Does anyoone have any pointers regarding the formation of
> Partnership/Contract Agreeements that can be used to spell out the
> relationship between us and the Developer.

I can't tell from your post if you really want a partnership
agreement, whereby you share your profits (and possibly management of
the business) with the partners/developers, or if you're using
"partnership" in the fuzzy dot com sense, meaning someone with whom
you have some form of business relationship.

If you're looking for a true partnership agreement, they can vary
widely depending on the situation. I recommend looking at Nolo.com for
their legal self-help books. And keep in mind that perhaps you might
want to set up an LLP (or LLC or corp) instead of a partnership, as
the former would limit your personal liability to 3rd parties better
than a partnership.

I'd also recommend not trying to write the first draft of the
agreement yourself -- whatever lawyer you go to should already have a
set of old agreements s/he can work off of to create a new entity. It
would be better simply to bring to the lawyer a detailed outline of
deal points -- equity shares, profit distribution rights,
dissolution/buy out scenarios, management roles, etc.

Again, I'd start with Nolo.com to get a general understanding of the
pros/cons of different business entities.

-------------
Regards,
Bob Haroche
O n P o i n t  S o l u t i o n s
www.OnPointSolutions.com



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