http://www.kenniffonline.com/profits-plus-llc/
Should I start an LLC or a corporation "C" with my friend?
Friend and I are wanting to start a business … Just the two of us. Putting running cost is about $ 15,000.00. I will initally our funding of this company. Friend has the main ideas for the business and trust and to know your ideas are robust. On a personal level, I manage money well, and unfortunately, it does not. It is even late on payment of basic earnings per his own phone cell while I'm on top of payments. But he and I have been friends for 15 years and can trust him with my life, but not in the financial aspects. I'm doing most legal work through w / my lawyers and not knowing how to divide profits. At first I was thinking for him, 60 and 40 for me but now I'm writing this, maybe you should be split 50/50 with me have at least 70% of the business, so we would have control over the company, due to the above. Any other comments about starting a business in general would be appreciated.
You are in the exact same place as my friend and I were BEST EX in eight years ago. 17 years of being friends, etc. He is just like you, and I'm like your friend, but my money problems are not so bad. But like you, my friend GREEDY is thinking he deserved more than me, but thought it was my ideas that were the creation of our company. We did an LLC, which split 50/50. Later brought his wife as a secretary and a% cut. Then he brought his brother as a worker and as a% cut. Then he brought his father and cut a%. So his company was now and no longer mine as I was the holder of the share lowerest even thought it was my idea. Today, we are not friends, the company was bancrupt because of their greed nothing is enough to less than 100%. He lost homes, divorced, has not seen her boys, her father has sued him for $ 74k. Among many other items. I left intact as their greed is allowed to what happened. He ran the numbers, signed all the papers. And he went to the bottom because of their greed. I'll I now make it 50/50. And if you can not get by the fact that they are bringing half the company's existence, then do not even bother starting. Just because you have the cash or the bottom numbers are not guaranteed to have more. In fact, you guarantee to have less, as the numbers do not sales. The creative part is that .. your partner. I'm back open, alone, without partner and never have another. Only happy customers knew and realized where the real Tallent the company was. In my case, and who have returned to me as a customer.
4Life Explode your Cashflow and Profits