You need to finalize the divorce plans before getting married in business.
Talk to a good business lawyer or you could end up having his wife be your partner or any number of other things that may be undesirable. Don't give away what you have worked on to this point by not being educated by a good lawyer. Tell your bride to be that he can put 5k towards legal consultation for you both before you make any decisions :) Scott Carullo Brevard Wireless 321-205-1100 x102 -------- Original Message -------- > From: "Robert West" <[email protected]> > Sent: Thursday, October 22, 2009 11:31 AM > To: "WISPA General List" <[email protected]> > Subject: Re: [WISPA] Partnership Agreements > > We're a full C corporation. I never thought about Exit strategy but I have > thought about the death of one of the partners, hopefully from natural > causes.... and how their share should be handled. > > -----Original Message----- > From: [email protected] [mailto:[email protected]] On > Behalf Of Israel Lopez-LISTS > Sent: Thursday, October 22, 2009 11:24 AM > To: WISPA General List > Subject: Re: [WISPA] Partnership Agreements > > My rules are: > Make it performance based > Make sure what he is bringing to the table is equitable to the proposed > share of the company > Try to talk out exit strategy, where you are taking it, how you want to > go and see if that matches up to what your new partner wants to do. > > This all depends on the business structure you have setup (which you > havent mentioned) but I assume it is an LLC or Corporation for your > state, make sure it is in writing. > > Watch this video if you want: http://vimeo.com/6950199 > > Good luck. > > -Israel > > Robert West wrote: > > I've had as few people approach me in the recent past wanting to partner > up > > with me and to be honest, I can really use someone to carry half the load. > > I'm leery, however of getting screwed. (My father was in business for > years > > with one partner and after they took on another they all got screwed to > the > > point they were out of business) A requirement of a partner, for me, > would > > be someone buying in with enough cash to grow the company to carry the > extra > > weight of the new guy. The ones in the past turned out to be flakes with > > only dollar signs in their eyes. Not a good fit for me, I'm not about > cash > > in my pocket, that comes with doing a good job and someone talking about > > money all the time scares the hell out of me. > > > > > > > > I now have a guy who looks good. Has the assets and interest. Has 3 > small > > towers in parts in his barn, he has a barn converted to an office, > > construction equipment, trailers, etc. He understands there won't be any > > money flowing in his pocket for probably a year due to the expansion we're > > doing. He says that's fine. He also has the billing and general > paperwork > > experience and background. (I absolutely hate dealing with the money and > > paperwork) Looks good so far. The construction equipment would be a > help, > > no more begging things from farmers and making deals to get a hole dug. > His > > current gig is as an electrical engineer, travels around the world as a > > contractor overseeing the repair and programming of robotics as well as > the > > installation of the equipment. He says he's tired of being gone all the > > time and wants to stay in one area in a field that will be somewhat > related > > and complicated enough that he won't get bored. Hmmmmm.. > > > > > > > > I've been to his home a few times, even put in a private wireless > connection > > between him and his neighbor a mile away. Seems like a decent guy. > > > > > > > > Now he wants to sit down and work things out on paper. Any advice on > things > > to cover my ass on? Things some of you wished you had down on paper when > > you started out? I'm not a partner kinda guy, my business plan is always > in > > my head, I make much of it up as I go along and I jump in and just do > things > > myself so this is new territory. (However, my total lack of > organization > > is due to the previously stated operation of the business plan) > > > > > > > > I know some will yell to not take on a partner and I'd be one of them, > > believe me. That's why I've fought them off so long. But with a larger > > network coming online and eyes for even more expansion, it's looking good > to > > me. (We currently only have a little less than 200 subs but anticipate > > twice if not 3 times that to come online in 2010) I just don't want to > be > > out in the cold or screwed over due to my ability to trust. I'll never > give > > up more than 50%, won't happen, but there are many ways people can screw > > others. > > > > > > > > It all sounds like picking the right person for marriage. (I have a bad > > track record in that too!!! ) Do ya think maybe him and I should just > kinda > > "date" for awhile before we make the commitment? What would be considered > > first base in this kind of thing....? Configuring a CPE after a few dates > > then moving on to a customer installation then if it all goes well, take > the > > plunge and climb a tower together? > > > > > > > > Weird. > > > > > > > > Thanks. > > > > > > > > Robert West > > > > Just Micro Digital Services Inc. > > > > 740-335-7020 > > > > > > > > > > > > > ---------------------------------------------------------------------------- > ---- > > WISPA Wants You! 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