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3 Responses to “Create the Type of Joint Venture”

1. 
   Comment by METme?
   March 8th, 2010

   Do I create a joint venture?
   Ok, this maybe a bit complex but I’ll try to clarify. I currently work for a small business owner that doesn’t really have a formidable business plan. Well I am a producer for the company and I may obtain a HUGE account next year (talking in the millions) Now, ultimately I would like to go on my own and this account really is only interested in working with me, not so much the company, so ideally this would be a great start with creating my own company. However, ethically I don’t want to do that but the owner really doesn’t have the knowledge when it comes to this type of "account". Now I’ve been thinking, should I go to her and say I would like to start a separate entity which would be under her umbrella but just a different division that I could run once this account goes through? I am afraid since she has the lack of knowledge I don’t want to get screwed by getting a "cost of living" raise and her say, "no I don’t want to do that". This company grows at a rate of a turtle, so I feel if I don’t stimulate growth by contractually offering this opportunity, it may all fall apart….any suggestions? (If there is any additional info you may need in helping me, please ask)
2. 
   Comment by ? BART?ND?R
   March 8th, 2010

   Joints?
   Im pretty sure drugs are illegal..
   References :
3. 
   Comment by glindatax
   March 8th, 2010

   Don’t share managerial or ownership roles with anyone, if you can help it. Control the business yourself, or you may not be able to control its future. It is admirable that you that you are concerned about the owner. You can create an entity (Corporation or LLC - sole proprietor) that could purchase the product or services from the owner. Possibly, if all works out, you could buy the business from her.

   BWY, if there is such big money on the line, why are you asking for advice in a free forum? There is no guarantee that any advice you get here is correct. Seek out your local SCORE chapter or a good accountant ot lawyer.

   As always, consult with a tax professional for specific answers. CPA Greg - glindatax.com

   References :