Which contract to use for new venture

[rzlegal]

What is the name of your state (only U.S. law)? Arizona

Hi there, I own an LLC in the movie production company. My company has been given the chance to go and film a project in a foreign country. The deal is that we go out of our own pocket and then the final client will pay for the final product.

TO make this feasible and not have to hire labor I have told people if they go on the trip and pay out of their own pocket, that when the final client pays for the product, every one who was on the trip will get an equal share of those profits from the final sale.

In this way they will be buying into a partnership rather then being paid a fixed fee, if the final client does not buy the product then we all ended up paying for our own trip, and had a great time.

I am not interested in tying anyone into getting cut out, I am only interested in something that ties these people to my company on a limited basis, outlines what they are expected to do for their share, and a clause that shows that if they back out they get nothing.

I was told its a limited partnership agreement, but since I look at them as investors in a product vs part of my company full time, then I would think a Joint Venture Agreement among all parties would be legally sufficient

Can someone lend me some advice

thanks so much!

 

[justalayman]

Consult an attorney.

Trying to do this without direct input from an attorney is foolish to even consider

 

[rzlegal]

well that was helpful... I think

 

[adjusterjack]

Anybody who finances their own employment like that is a fool, including you.

You really think a piece of paper is going to get money out of the "client" if the "client" folds up his tent and slips silently into the night?

You'll be back here in 6 months sobbing "What are my rights"?

And good luck getting people to buy into this "When I get paid you get paid" business.

Though if these legal websites have taught me anything there are plenty of stupid people out there that you should have no trouble conning.

 

[rzlegal]

Anybody who finances their own employment like that is a fool, including you.

Actually if you were paying attention you would notice that that was not the topic of conversation at all

You really think a piece of paper is going to get money out of the "client" if the "client" folds up his tent and slips silently into the night?

This has NOTHING to do with the end client, we all are very aware they may decide not to buy in the end, that was apparent in the first place

And good luck getting people to buy into this "When I get paid you get paid" business.

Yeah and this is why the world is ruled by idiots and some of the best thingsn ever get off the ground, do you think EVERYONE in this world is made of money, if people never take that risk guess what, they sit on here poor and a slave to the man (like you are right now in your 9-5 job i bet) So yes there are people out there that roll the dice and take those chances, that is one reason I made so much money in business. Did I suffer losses , absolutely. My first company was driven to the ground and I lost a bundle because I went in on faith, but thats why it is called faith.

The people you talk of "not existing" are already ready to sign on the dotted line, their eyes are fully open that they could make no money, the JV agreement is just so its all on paper.

Though if these legal websites have taught me anything there are plenty of stupid people out there that you should have no trouble conning.

I should have known better then asking this question to the "mouthpieces" of the internet, I am outta here!