I guess I could ask this in one of Mont's legal threads, but I'm pretty sure a bunch of you already have some sort of partnerships going already.
I'm getting more and more interested in investing in more long term web assets, whether it be funding a new project from the start or purchasing an existing business.
For those situations where you are purchasing a percentage of the equity, I assume in most situations something legal should be drawn up. Is it pretty much as cut and dry as having a lawyer draft up a document indicating the equity percentages, duration and some other terms and then having the partner sign it? If so, could you "cookie cut" the legal document, so that it can be used in different partnerships (i.e. change the name, percentages etc to suit the current deal)?
The above could work for partners who reside in the same country, but what about international partnerships?
In b4, "Choose your partners as carefully as you would if you were to partner up for a brick and mortar". It's pretty tough to get to know someone personally who lives in another country, or on the other side of the globe, but obviously you would need to trust that person in order to do business with them. Picking your partner is a whole other ball of wax that we won't talk about right now.
Anyways, would appreciate any sort of input from anyone who has experience with this.
I'm getting more and more interested in investing in more long term web assets, whether it be funding a new project from the start or purchasing an existing business.
For those situations where you are purchasing a percentage of the equity, I assume in most situations something legal should be drawn up. Is it pretty much as cut and dry as having a lawyer draft up a document indicating the equity percentages, duration and some other terms and then having the partner sign it? If so, could you "cookie cut" the legal document, so that it can be used in different partnerships (i.e. change the name, percentages etc to suit the current deal)?
The above could work for partners who reside in the same country, but what about international partnerships?
In b4, "Choose your partners as carefully as you would if you were to partner up for a brick and mortar". It's pretty tough to get to know someone personally who lives in another country, or on the other side of the globe, but obviously you would need to trust that person in order to do business with them. Picking your partner is a whole other ball of wax that we won't talk about right now.
Anyways, would appreciate any sort of input from anyone who has experience with this.
