Friend is likely to start up a partnership (specifically a Limited Liability Partnership) in the UK. Aside from the usual problems of running a business in the current economic climate what particular issues are they likely to face? I'm interested more in the softer 'issues' like the difficulties of coming to decisions between the partners if they all have an equal stake, or how to put in place good procedures for equity partners to join or leave rather than more 'harder' legal aspects of say how to incorporate at Companies House. [more inside]
posted by Albondiga
on Jun 26, 2013 -
I have an idea for a web project. It may have some commercial potential eventually but will basically be a night project for me and the other folks involved. Think of how MetaFilter got its start... hand-rolled / bootstrapped, whatever. My question is: how do you agree on who gets what share of any proceeds down the road? In particular, the design work will be heavy up front but tapering off after launch. Is it insulting to offer a designer a 5% share for a few days work? Does everyone brought in need to be made an equal partner? I'm sure the answer to that is no, but I'm not sure what the alternatives are. Paying people cash for work is not an option. There is no cash, and everyone involved is willing to invest some time and wait for results. The only thing is that some of us will be investing more time than others... so what to do?
posted by scarabic
on Sep 5, 2007 -