Hi all- I've met someone who has a valuable, but underutilized domain (4 years old). I want to propose a partnership where he would supply content and I would manage the rest. I would move it to WordPress, take care of all advertising, optimize links, etc. How are such partnerships typcially handled? What is the revenue split? Can anyone point me towards a sample contract? Thanks for any help you can offer. And please tell me if this should go in the Business forum instead of here.
Just my opinion (I am not a lawyer), I am not sure if you would want to have a partnership in that situation. If he is supplying the "content" and for some reason he gets sued for it, you can have some problems because as a partner, you will be included in the lawsuit. If it was me, I would set it up more as a service relationship where you are paid for your services with website management.
I would get a lawyer or write up a contract myself that covers all of the terms, each members responsibility, and the provisions on opting out. Write it up and revise it until both parties agree on the terms. The both parties need to sign it and retain a copy for themselves. This way everyone abides by some set standards and guidelines and it is all in writing in case there is a dispute in the future.
Thanks jestep. Maybe I can find a sample contract somewhere. I'm wondering if there are industry standards re: revenue split, dissolution, etc.