I want to know how I would handle splitting profits with my investor and partner.
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I want to know how I would handle splitting profits with my investor and partner.
I am starting a business online with my
boyfriend as my partner and my brother in law
is giving me the initial investment to start
it up. Now my investor wants me to pay him his
initial investment back after we make a
certain amount of profit and continue to gain
from that. How do I address that and how
should I split up the profits fairly between
the 3 of us?
Asked on October 9, 2019 under Business Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
You, your partners, and your investor (your brother-in-law) can contract to handle investments anyway you want. All you need to do is to write up what will happen very clearly and carefully in a document which the three of you will then sign, turning it into an enforceavle agreement. Then do what the agreement you all signed states.
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