[ASK] Joint ventures. How do you split the money?

Say you want to do a JV with someone to write an ebook an sell it on CB?

How do you split the money?

Does CB allow you to open an account with two LLC's ?

Usualy in my joint ventures i give the right of payment recieving to partner in case his rep is higher here and recieve payments by myself if it is noobie, its my choice...

What about legal contracts?

Do you sign contracts?

Is your Business an LLC?

Definitely sign a contract, for both of you. It's best to have them in any business agreement.

Split the money as you guys decide ahead of time. Or have one recoup their investment, and then split it evenly after. You and your partner should figure it out.

In one of my JV's, I manage all the sales, and send my partner a payment on paypal once a month. It's worked out for 5 months now. Best part is, it only takes a few minutes every month for a program I didn't even create.

There's nothing required But you don't have to sign anything just Pay his % to him or the other way around. that is if you can trust him.

Once you trust your partner for the first payout it becomes secure after that because it doesn't make sense if he scams you and run away with one month worth of earnings and breaking the jv that will bring income every month.