Joining a person online for a venture

I am joining with a person i know from some time and i really trust him. We are starting a project and the profits are decided to be shared equally. I know that it won't be a problem but still i want to know all the steps i should take to ensure that i am safe and don't have any future problems.

Thanks

 

You should go for partnership agreement in my opinion.

 

We don't stay in the same country. What exactly do i do now?

 

i met a guy online, he offered me the job, i worked for 4 days for him resign on 4th EOD, lotta people change, in real, wen they see money, when there's an issue.

Had i been in ur position, i would have gone for it with me having the control over the money part. If its money i got just 1 policy
"My way or the highway"--> old i kno but still effective.

 

I mainly deal with ppl from other countries and I have never had the pleasure (or displeasure for some) to meet in real life.. The way I see it is you are going to run into some bad apples any way you look at it on or offline. Try to build a trust, you have to be willing to have some faith or else it just won't work. I've been burned both online and off and Ive come to realize that you can never really know a person..ppl change and hopefully you don't lose too much time or money. I personally feel that my time is more important that the money for most of my online dealings though.

Try to go into it with trust, but don't let the same person screw you over more than once. There are some things that deserve a second chance, I don't think that trust is one of them because its so fragile and very difficult to ever build up again...

 

Nice points darren. But i was wondering should i like ask him for some signing of e-contract of any sought? Because i do really trust him and everything and my presenting this contract or telling him to sign whatever will make him think 'where is the trust' and the other way to look at it would be safety on my end. Just curious because i do know the following about him
-He owns a pretty reputed site(one of the top 15,000)
-He is very helpful and has done dealt fairly before whenver i have transacted with him.
Suggestions please!

 

A contract means nothing if he decides to walk off. Cross-border suing isn't much fun and I doubt you would actually go look for him if he runs off with a few grand. When it comes down to it, the law is too much of a hurdle or the effort too much to consider.

So I'd go for risk limitation rather than tieing things up on meaningless paper.

Make sure neither of you ever gets full control to all of the money.

So, rotate adsense banners 50-50 on both your accounts rather than one account and then split it later. Same with affiliate banners. And if you can't do it like that, like with a merchant account, make sure you empty the accounts regularly. If it heaps up, someone can walk away with it.

 

What countries exactly? MEDCs/LEDCs ?
Check out partnership agreements cross borders - definitely worth while to do it the legal way in case you enterprise does end up with millions and the other half claims 100% of it.

 

need to talk term first, if neccessary, write in black and white. Better be careful...