Ryder asked:
Let’s say two people start a t-shirt business… one of the people doing the business is an artist who does the designs for the company, such as designs for the shirts. When these shirts get sold ($40 for a shirt for example), and the t-shirt is paid for, how is the money split among the two who is running the business?
Private Air Charter & Jet Charter
Internet Business
This would have to worked out between the two owners in a written and signed agreement. this can be 20/80, 30/70, 40/60 or 50/50
Private Air Charter & Jet Charter
chick the web
business
Since you haven’t legally formed a partnership, likely would be 50/50. I suggest you form a legal partnership so everybody is on the same page.
You must document the ownership percentage when you do this and the profits must be split accordingly. Linked below is an article giving advantages and disadvantages. Also has a link to nice table. It confirms what i’ve said above.
InternetMarketingCourse.com
For startups and new businesses, I would recommend
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