Quote:
Originally Posted by zacs
eff the lawyers. lawyers suck, are expensive, and should only be a tool of last resort. go talk to the lady and hash out the deal. If you need a lawyer to sort it out then it probably isn't going to work. Its not like you are trying to merge two agribusiness giants. Just talk to her and be honest with your concerns. There is nothing wrong with wanting to make money, and let her know up front that you just want to make sure you understand what is in this relationship for YOU.
Again, this is just my oppinion, and I'm sure many will give you other advise. So use your best judgement...
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Worst advice you could ever get. By all means talk to her and reach a mutual agreement, but then get it put in writing by a lawyer. Lots of partnerships have made it big. You're going to need some type of legal vehicle anyway, be it a partnership, LLC, sub S corp, or sub C corp, so you will also need a partnership agreement or a shareholder'
s agreement. All the Terms & Conditions can (and should be) included in that agreement. Trying to cheap it out in the short haul can be very expensive in the long haul. Putting it all in writing is to both of your advantage.