Hi everyone,
I've spent over the last year creating a product in the hangover industry. Because my background is medical, marketing has been an issue for myself and I have since found a marketing guru in the USA who saw a big market and wanted to be involved. We have come to the agreement for 25% of the revenue generated to be paid to him for the remaining stock.
I wanted to know what and where would I seek an agreement that allows me to own full IP of the business and product but commit to still providing him with his 25% share of the remaining stock. I essentially want to maintain full ownership of the business whilst having an agreement to give him 25%.
Any recommendations of assistance on commercial law would be greatly appreciated! It doesn't appear as though a simple partnership agreement would suffice.
I've spent over the last year creating a product in the hangover industry. Because my background is medical, marketing has been an issue for myself and I have since found a marketing guru in the USA who saw a big market and wanted to be involved. We have come to the agreement for 25% of the revenue generated to be paid to him for the remaining stock.
I wanted to know what and where would I seek an agreement that allows me to own full IP of the business and product but commit to still providing him with his 25% share of the remaining stock. I essentially want to maintain full ownership of the business whilst having an agreement to give him 25%.
Any recommendations of assistance on commercial law would be greatly appreciated! It doesn't appear as though a simple partnership agreement would suffice.