A small group of people and I are planning to create a website jointly promoted by each of us and share in the profits evenly. There are 5 people including myself.
My questions are:
1) Are there any 3rd party or independent companies that do profit division management. In other words, I need someone who is independent from our group to be the only ones authorized by the group to access the account to distribute profits, or make funds available for other uses we jointly agree upon such as advertising expenses.
2) What are the rules/laws around creating an business relationship with others? Do I need an LLC, partnership, etc? How is this handled when one of the partners is in Belgium?