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Agreements and Taxing for a JV GPT

Discussion in 'Business & Tax Advice' started by Gide_Gnome, Mar 23, 2012.

  1. Gide_Gnome

    Gide_Gnome Junior Member

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    I recently coded a fairly succesful GPT site and got pushed out of it by my 'partner'. Totally my fault for not covering myself, but I plan on relaunching it with a new marketing partner. Since I've been on the wrong end of the stick on this before, I want to make sure everything goes right this time.

    My largest concern is how to do the agreement or contract with a partner in such a way that if one of the partners decides to slack off or something, they aren't just being carried by the other.

    Another concern is that I've put a LOT of time into the code of this site, and I would hate to be unprotected and have a partner sell the code or something afterward.

    I really have no idea how to implement this. I found one agreement for a more brick and mortar setting here:
    Code:
    http://www.smallbusinessnotes.com/managing-your-business/sample-partnership-agreement.html
    Although the separation involves dissolving the company, which I would hate to do just because it turns out my partner decided to be an ass-hat. There's also nothing mentioned for the resell of or rights to the code after the dissolve.

    I'm just spit-balling here, looking for any sort of pre-written agreements or general advice on doing a JV like this that the fine folks here may have.

    Also, I don't want the thread to go on the wrong track here, everything above is my main focus but I would like any sort of tax advice for micro-transaction income and micro-payout sites like this, if anyone has experience in keeping records or anything for that.
     
  2. Sprouts

    Sprouts Regular Member

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    With reference to the code - Why would you let your partner touch any of the code? You have coded the site and their job is to manage it.

    I have a GPT site (custom coded - 200 or so hours of coding time) and I'm JVing with someone at the moment. They have an "admin" panel where they can add surveys and manage users etc. They don't have FTP access or anything else so there's no possibility of them "stealing" the code.
     
  3. Gide_Gnome

    Gide_Gnome Junior Member

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    This would certainly be ideal. I've yet to find a marketing JV partner who's OK with me having the site and the accounts on the networks.
     
  4. NewBizMarketing

    NewBizMarketing Newbie

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    That's because you won't find any worthy business partner willing to agree to those terms. Any business partner worth working with will want to sit down and go over all of the details and allow you to see he is qualified as well as you showing him the same courtesy. A business involves a great deal of trust.

    By the way, Gide_Gnome, check your Skype, I sent you a message last night pertaining to the creating of our new coming gpt site. We already have an LLC set up and can go through all the legalities if and when the time comes.