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villeboy

posts: 2

Aug 17, 2008 5:27 PM ET Quote Report Abuse

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Based on my idea I am getting couple of people together to work on an internet startup business. Since the idea and vision is completely mine do you think it is unfair to ask additional +5% share compared to other 3 people who are working on the startup?

All replies appreciated,
Thanks,
Ville

customizedstyle

posts: 2

Aug 18, 2008 7:53 AM ET Quote Report Abuse

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nothing in business is unfair if you sell yourself or your idea and people buy it, you can ask for whatever percentage you wish, just sell that number to your partners and believe you are worth it and deserve it, they will too.

DeenaEsq

posts: 40

Aug 18, 2008 9:33 AM ET Quote Report Abuse

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I would just make sure that in your agreement (shareholder/member/partnership agreement depending on how you intend to organize the business) that you spell out that your contribution of the idea is worth whatever amount you assign it. That way there`s never a problem when you guys split up.

Deena

_______________________________________________

Any opinions are offered without knowledge of the specific law of your jurisdiction and with only the limited information provided in your post. No advice given here should be reasonably relied upon by you or any third party without consulting an attorney who is aware of all of the facts and law surrounding your situation. Any advice given here is not intended to create an attorney-client relationship in any way.

-------------------------

Deena B. Burgess, Esq.
www.ebusinesslawgroup.com
Offering Affordable Legal Solutions to Online Businesses
Check me out at Twitter and Linked In

patentandtrademark

posts: 1332

Aug 18, 2008 4:13 PM ET Quote Report Abuse

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all is fair in love and war and an internet startup business.

-------------------------

James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com

dothingsright

posts: 145

Aug 19, 2008 10:15 AM ET Quote Report Abuse

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Hey Ville,

Can you give more clarity as to why you`re only asking an additional 5%? If this is your vision an idea, I`m thinking you should get more. That`s my opinion and it`s also dependent on the amount of work that you and your partners will be doing.

God Bless,

Tyra

villeboy

posts: 2

Aug 28, 2008 7:26 AM ET Quote Report Abuse

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Thanks for the answers so far.

Situation is as follows.

It is Internet startup. My initial idea, we have already developed the idea further with the 4 partners. To make it success it needs a lot of work from all of the 4 partners involved, the development, design, marketing, third party negotiations. etc. so basically every individual will work a lot for the business, in best case it might make it to become million dollar business, in worse case it might be overrun by already existing competition in the field.

My initial idea - needs a lot of further development ideas from all fields, all partners have to push hard to make it happen, needs to perhaps invest a little bit on it and even then it might not make it. Thus I though 5% is fair. Otherwise I see that other partners might not get motivation to be in it.

All further opinions welcome.

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