I am possibly starting my own business online and I am going in with a partner, now should we sign a contract so we don't per say back stab each other on certain business aspects or other legal related terms? If so where and how can I do this?
2007-11-12 07:15:02 · 5 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
YES !!!!!!!
Half the lawyers in the country would be out of a job if people just sat down and committed their agreements to writing before they entered in to them.
It's not even to stop one or the other of you stabbing his partner in the back. It's equally to make sure when you start that you're both CLEAR on exactly what you're agreeing to.
You wouldn't believe how many people end up suing bcause they entered into a verbal deal, which was talked about on several occasions of a period of weeks, and there was never a clear understanding of exactly what was agreed to ! (Or rather, both people THOUGHT they had a clear understanding - but they had different ones)
It doesn't have to be anything all formal and legalese if this isn't over a huge amount of money.
Just get a piece of paper, write down exactly what you're both going to put into the business in terms of money, time, expertise etc, and what you're both going to take out. Make sure you set down WHO gets to have the last word if something comes up that you can't agree to. Then you both sign and date it, and you're done.
Richard
2007-11-12 07:22:47 · answer #1 · answered by rickinnocal 7 · 0⤊ 0⤋
Legally, you may or may not sign a written contract. Contracts may either be written or oral, both are legal and binding and may be used in courts in the future in case there will be a problem between the contracting parties.
However, for practicality, I suggest that you should put your stipulations in writing. It would be more difficult to prove an oral agreement than a written agreement.
I also suggest that you check the laws of your State or country regarding contracts. For example here in the Philippines, our laws specifically provides that for contracts that will last for more than a year, it must be made in writing, or for contracts involving an amount in excess of 5,000 pesos, it must also be made in writing.
Good luck to your endeavor.
2007-11-12 07:42:24 · answer #2 · answered by kyutlayar 1 · 0⤊ 0⤋
Ummmm, yes! Contact someone who does contract law, usually an entertainment attorney because they deal with a lot of intellectual property and what not. Since it's the two of you going into this, that may be an issue at some point. Good luck with your business. Exciting!!!!!
2007-11-12 07:25:23 · answer #3 · answered by PhiloSophia 3 · 0⤊ 0⤋
Definitely, see a lawyer.
Ask if forming a corporation or partnership would be better for the type of business you will be starting.
Getting legal advice now is better than hard feelings and lawsuits later.
2007-11-12 07:22:42 · answer #4 · answered by nolainkansas 5 · 0⤊ 0⤋
merely take it to court docket and get a sturdy lawyer. I had a chum(18) who became dating a sixteen-year-old and he have been given mad at her and informed the law enforcement officials she had intercourse with him, in order that she'd get in hassle. The law enforcement officials held her for 3 a million/2 HOURS and would not enable her bypass till she confessed. Now she's a registered intercourse criminal, and she or he's gotten fired over it.
2016-12-16 06:30:58 · answer #5 · answered by ? 4 · 0⤊ 0⤋