My good friend and I are creating a simple subscription based website. We're not even sure it's going to make money. We do want to get an LLC, but that takes like 10min, no problem. We don't have any grand plans or complex needs. Basically we split costs and profits, set a dissolution clause, final vote clause and some banking rules. Do we really need a lawyer to write that or can we just type something up and sign it? thanks!
When you create your LLC one of the options will ask if you want an Operating Agreement. The operating agreement will provide for the other items you are seeking (like voting rights.)
I can understand someone not wanting to spend hundreds of dollars on an attorney when you don't even know whether the website will be profitable. The problem I have found is that easiest time to deal with the thorny issues like disputes, buyouts, rights of first refusal and dissolution is upfront when both LLC members are on equal footing. If the members don't do it at the beginning, typically those issues never get addressed until there is a problem. At that point, nothing is theoretical any more. It is one versus the other. If that point is reached, the money that would have been spent upfront addressing the issues is a drop in the bucket compared to the legal expense, business distraction and personal stress the parties will face.
Get everything in writing, up front. I was a partner in an online venture where I provided the funding and (most of) the technical expertise, and the other guy was the public face for it. We viewed it as a hobby, but years later someone offered us six figures per year to rent the thing. My "friend" (who most everyone identified as the owner as I shy away from publicity and he's a sponge for it) ended up seriously damaging my online credibility while trying to get me to hand over my interest, and eventually filed suit. Two years later we still don't have a court date, but it'll be six figures in legal fees before this is over. In the end I expect a positive outcome, but the legal fees and damage to my reputation are probably permanent costs at this point, and if I hadn't been able to come up with the legal fees I would have been SOL (I believe this was my "friend's" expected outcome.) People are selfish and greedy. Friends might sell you out of the price is right. You never know what someone will act like once a situation like this happens -- look at how families can fly apart after someone dies and you'll start to understand how people can start acting out of character once they get dollar signs in their eyes. Get it in writing -- it's well worth the up-front investment if you succeed in creating a valuable site.