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2
votes
4answers
1k views

How to take a draw in a multi-member LLC?

My business partner and I are forming an LLC. As I understand, members of an LLC are not employees and therefore are not on payroll. Instead they pay themselves by taking a draw from the LLC funds. ...
2
votes
3answers
456 views

How To Structure A Partnership

First I must say, this site is quite impressive. I found it while researching partnership agreements. That being said, I am nearing a fairly important conversation with my current partner to discuss ...
2
votes
2answers
45 views

How can you partner with a complimentary company to assure prospects that someone will be able to support them if you go out of business?

We're a small SaaS provider for child welfare agencies and even though we have been in business for five years and offer one of the most robust case management solutions, we have a problem with ...
2
votes
1answer
50 views

Is there a way around a partner paying additional income tax in an acquisition?

I'm interested in bringing on a partner (for his development abilities) for a site I'm working on. I already have an LLC and would prefer to keep this site under that LLC. Then, I'd offer in a ...
0
votes
1answer
35 views

Initial Capital Contribution

Is a partnership made official when the operating agreement is signed or after all partners make the required initial capital contribution as outlined in the operating agreement?
0
votes
1answer
72 views

Percentage allocation for my startup reasonable?

I've developed a new product that I am going to be selling and putting on the market. I had been planning on funding everything with my own personal savings. I have a friend (Mike) who believes in the ...
0
votes
1answer
56 views

Public v. Private Limited Partnership in Illinois

I'm contemplating starting a LP in Illinois where I will be the general partner. I will seek to sell "units" in the LP to friends and family. The Starting Your Business in Illinois document says ...
-1
votes
1answer
55 views

Importance of Business Networking in a Tech Company

Everybody seems to think the opposite, but does it really matters how well you are connected with others entrepreneurs, developers or VCs when you own a tech company? It seems obvious that it helps ...
0
votes
0answers
10 views

Which partnership participation model use to focus on validation?

I want to begin a startup with keeping investment as low as possible to focus on multiple validation steps and survive as long as posible too in early steps. I know that profits will decrease in new ...
0
votes
0answers
13 views

What general terms should be in an agreement to market another company's product?

We are looking at potentially bringing to market a SaaS application from a company outside the U.S. It's a wonderful product that would benefit from our visibility, customer base, expertise, and more. ...
0
votes
0answers
53 views

Partnership : Adding a new partner in start up for marketing and Branding exclusively for one region

we are a start up who deals in providing IT Solutions to education sector, we are 6 months old and technical team is building up product and website and marketing is on in 2 regions already ans we ...