Adding a partner

[natekane]

What is the name of your state? Texas

I am not sure if this is the right forum for this question but here it goes:

I have an IT consulting and software business. I have been doing the consulting for over 10 years and have been fairly successful. Recently, I developed a software package that I am going to start marketing. I am not much of a marketerand have been trying to find someone who could do the marketing for me.

I have a friend that is very good at it and has a lot of contacts in the targeted industry. I have asked her what it would take to get her involved in the marketing of my software. Her response was that she wanted 50% commission and 30% of the company.

My only problem with the "30% of the company" part of the deal is that about a month ago I was approached by another company that wants to roll my company up into theirs. Their main reason for the roll up is because of the software that I have developed.

There is going to be a substantial amount of money change hands on the roll up. How do I exclude the roll up from the 30% of the company I give her since it has not happened yet and may not happen for a couple more months?

Thanks

 

[divgradcurl]

What is the name of your state? Texas

I am not sure if this is the right forum for this question but here it goes:

I have an IT consulting and software business. I have been doing the consulting for over 10 years and have been fairly successful. Recently, I developed a software package that I am going to start marketing. I am not much of a marketerand have been trying to find someone who could do the marketing for me.

I have a friend that is very good at it and has a lot of contacts in the targeted industry. I have asked her what it would take to get her involved in the marketing of my software. Her response was that she wanted 50% commission and 30% of the company.

My only problem with the "30% of the company" part of the deal is that about a month ago I was approached by another company that wants to roll my company up into theirs. Their main reason for the roll up is because of the software that I have developed.

There is going to be a substantial amount of money change hands on the roll up. How do I exclude the roll up from the 30% of the company I give her since it has not happened yet and may not happen for a couple more months?

Thanks

If your company is about to be acquired, why would you want to take on a partner now anyway?

If you want to go ahead with this anyway, you will probably want to work with an attorney to draft the necessary agreements. If significant money is involved, any money saved now by doing this on the cheap is guaranteed to be lost in the ensuing battle over the profits from the "roll up."

 

[natekane]

You never know if something will happen to make the roll up fall through so I am proceding as if it is not going to happen.

What I have thought about is puting the sales person on a trial period for 6 months. That way I am not giving away my company to someone who does not produce as expected and hopefully I will avoid anything happening with the roll up.

What kind of attorney do I need to get to help with this?

 

[divgradcurl]

You never know if something will happen to make the roll up fall through so I am proceding as if it is not going to happen.

What I have thought about is puting the sales person on a trial period for 6 months. That way I am not giving away my company to someone who does not produce as expected and hopefully I will avoid anything happening with the roll up.

What kind of attorney do I need to get to help with this?

Any attorney should be able to do this, but if you have a choice, look for a local attorney with small-business and contracts experience, that would be your best bet.