Dividing a product's revenue

Discussion in 'Legal Issues' started by merto, Jul 16, 2010.

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  1. #1
    Hi,
    I wonder if anyone has an opinion on the follow subject:

    I have recently started an incorporation with a friend and we have one iPhone and one iPad application. For the iPhone app, two other guys helped us. Is it possible for us to divide the revenue for just only the iPhone app in a legal way so that these guys feel secure? We can't give them any stocks or let them join our company because they don't live in the states.

    Thanks.
     
    merto, Jul 16, 2010 IP
  2. Nonny

    Nonny Notable Member

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    #2
    Nonny, Jul 17, 2010 IP
  3. xtrecoolx

    xtrecoolx Greenhorn

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    #3
    I guess revenue sharing is more of a correct term but I don't how you do it the other party is not a corparation
     
    xtrecoolx, Jul 17, 2010 IP
  4. c_programmer

    c_programmer Peon

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    #4
    A simple contract should do the job, make sure it clearly outlines the responsibilities and rewards for every part involved.

    Also, being foreign does not disqualify them from being able to own stock or be a member of the business.
     
    c_programmer, Jul 17, 2010 IP