I am currently involved in a ecommerce business partnership 60/40
I am the 40% partner
my business partner created a new invention in our industry which we are patenting.
We are planning on developing this product and formulating a new company under our existing company which would retain the original 60/40 agreement.
The problem is my business partner is asking for a 1 dollar licensing bonus on each units sold on top of his already 60%
I have already paid my 40% for patent costs in addition will be contributing 40% of all production costs.
We are planning on retailing this product for $24.99
Any feedback or advice would be highly appreciated.
I am the 40% partner
my business partner created a new invention in our industry which we are patenting.
We are planning on developing this product and formulating a new company under our existing company which would retain the original 60/40 agreement.
The problem is my business partner is asking for a 1 dollar licensing bonus on each units sold on top of his already 60%
I have already paid my 40% for patent costs in addition will be contributing 40% of all production costs.
We are planning on retailing this product for $24.99
Any feedback or advice would be highly appreciated.
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