Grin. You know, many of us still work side jobs! big grin
For me, it's the local chamber of commerce (president) and being on the board of WISPA. YOU could be a WISP!!!! Woo hoo marlon ----- Original Message ----- From: "Larry Yunker" <[email protected]> To: "'Marlon K. Schafer'" <[email protected]>; <[email protected]>; "'WISPA General List'" <[email protected]> Sent: Friday, October 23, 2009 6:42 AM Subject: RE: [WISPA] Partnership Agreements > Marlon, > > Thanks for the kind words. I sometimes (incorrectly) assume that list > members know/knew that I used to run an ISP/WISP. Believe me... there > are > days now when I'm cooped up in the office that I miss being out there > climbing towers, hanging antennas, installing routers and looking for the > next grain-leg to expand to. > > Regards, > Larry > > -----Original Message----- > From: Marlon K. Schafer [mailto:[email protected]] > Sent: Friday, October 23, 2009 12:00 AM > To: [email protected]; WISPA General List > Subject: Re: [WISPA] Partnership Agreements > > For those that don't know him, Larry is an ex wisp all around good guy. > > He's now a lawyer but I try hard not to hold that against him. > > Did I say that I've known him for years and he's a great guy? Litterally > one of the founders of the WISP business. > > marlon > > ----- Original Message ----- > From: "Larry Yunker" <[email protected]> > To: "'WISPA General List'" <[email protected]> > Sent: Thursday, October 22, 2009 8:59 AM > Subject: Re: [WISPA] Partnership Agreements > > >> Robert, >> >> A good partnership agreement / shareholder agreement is a necessity if >> you >> are going to take on a partner and make your business venture a success. >> There are a lot of considerations: >> >> How to split profits >> How to split losses >> How to elect a board of directors >> How to make management decisions (usually voting control of the board) >> How to handle stalemates >> If the company is in need of money what sort of future contributions will >> be >> required and how will those future contributions effect equity >> Is each partner/shareholder responsible for existing debts/liabilities of >> the company? >> Is each partner/shareholder entitled to any sort of salary? (what if the >> partner gets sick, cannot work, or will not work?) >> Under what circumstances may a partner/shareholder draw money out of the >> company? >> Is a partner entitled to work for the company or can a partner be "fired" >> as >> an employee - if so, does that partner retain his equity in the company? >> What happens when you want to add new partners? >> What happens when a partner wants to cash-out? >> Can a partner sell his interest to just anyone or must 100% of the >> partners >> agree to the sale or must the sale be ONLY to existing partners? >> What happens when a partner dies, gets a divorce, or files bankruptcy? >> How does the company get valued if a buyout is required? >> Do you mediate or arbitrate disputes or do you immediately go to court to >> resolve legal issues? >> What about competition - can a partner compete? Can an ex-partner >> compete? >> Define competition - can a (ex)partner hire away your employees? Can a >> (ex) >> partner solicit your customers? For how long after a breakup must an >> (ex)partner remain out of the field? Is a (ex)partner limited only from >> providing wireless access services or is he limited from web hosting, web >> design, computer repair, etc. >> >> The list goes on and on. I've handled several partnership/shareholder >> agreements and with the use of a good template and a good understanding >> of >> the WISP business, it's possible to put together a plan to protect >> yourself >> and your potential business partners from future disagreements. Trust >> only >> goes so far.... eventually something unforeseen will happen and when it >> does >> you want to make sure that you have a document to cover your basis. >> >> Regards, >> Larry Yunker II, Esq. >> Barkan & Robon, Ltd. >> (419) 897-6500 >> >> >> -----Original Message----- >> From: [email protected] [mailto:[email protected]] On >> Behalf Of Robert West >> Sent: Thursday, October 22, 2009 11:17 AM >> To: 'WISPA General List' >> Subject: [WISPA] Partnership Agreements >> >> 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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