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.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
