Hi, I am 14 and I want to sell some of my programs I have made. I think a business is the best way to go about this, so I would like to talk to my parents and set up a company with them. How should I set up a business that would allow me to gain control on my 18th birthday?
2007-05-01 06:34:40 · 2 answers · asked by SM 3 in Business & Finance ➔ Small Business
It isn't major software, and I don't have any software I didn't pay for or is illegal. Also, not many school kids would want this software, but thanks for the advice.
2007-05-01 07:31:30 · update #1
You have many issues to consider and definetely need a good attorney. The business will need very carefully drafted ByLaws or Operating Agreement and probably a buy-sell agreement. You need to discuss management, taxation, liability, and control issues with the attorney. After a thorough examination the attorney can provide counseling on corporations, LLCs, and partnerships. You also have licensing, trademark, patent, and distribution issues. Absolutely do not attempt this without a very competent attorney.
2007-05-01 08:12:44 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Software is a difficult Business - Microsoft is always changing the 'goalposts' by issuing Service Packs, changing the default Security settings and even making the occasional bug fix ..
Also too many school kids copy your work without paying you (I bet you have software you didn't pay for :-) )
Re: Gaining control - suggest you ask your Parents to set up a 'Trust' and put your Shares (51%) of the Company in the Trust until you are 18.
Good luck !
2007-05-01 07:13:19 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋