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Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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Need contract advice for software business. I have a verbal

Customer Question

Need contract advice for software business. I have a verbal agreement with 3 others to market technology from Europe in the US. I will receive an unlimited license for the product(s) and will also market custom software jobs, so I would have the entire North America Market. The designer and application developer / owner are professors in Europe (England and Russia). The other associate is my neighbor in Florida. The professors wanted to market their products and the US and my neighbor and myself are starting a US sister company.
The product is proven artificial intelligence used in Europe for automated scheduling.
The main agreement for the 4 of us is what I'm concerned with initially to give me rights to anything they want us to market in the US. We will be working with US companies with licensing agreements also.
Any suggestion.
Mike Malone
Submitted: 6 years ago.
Category: Legal
Expert:  MShore replied 6 years ago.
Thank you for the post Mike, exactly what would you like to know regarding the contemplated arrangement with your foreign partners?
Customer: replied 6 years ago.
What business structure will be the best for everyone? C Corp or LLC.
I will need a business agreement for the 4 of us.
1 professor in England (software designer)
1 professor in Russia (software developer and owner)
1 neighbor
myself (I will be a cash investor)
Goal is to have a going concern in the US. They will provide support, software development etc using their advanced multi agent technology etc. We will be the sister company, user rep, North American owner-operators managing the US side. I will be the CEO and business operator. I cannot be voted out. Neighbor will be business develpment director vp, other will be CIO and Board Chairman or VP of nother title. We will split profits 4 ways, but we will take care of paying me back and growing the business according to our business plan.
The Russian professors business will be payed according to the business plan for supporting and developing software, I will eventually make this a full time job and be the owner/operator and draw a paycheck and my neighbor should have the option of drawing a paycheck for sales or operating services. I don't see direct involvement by the English professor at this time.
Since this is software should our company have an unlimited license to all the products? The US company would need to manage the limited licensing sold to N American clients which will be in our business plan.
BotXXXXX XXXXXne is getting the high level agreement for the 4 of us.
Expert:  MShore replied 6 years ago.
Hello, do you mean that you want me to draft or provide the agreement?
Customer: replied 6 years ago.
What is your rate for the type of agreement I'm talking about? Also, I see that there will be future legal needs. How do you handle this since we cannot meet in person?
Expert:  MShore replied 6 years ago.
Hello, unfortunately Just Answer does not permit Legal Experts to represent Just Answer customers in our respective practices. Therefore I could not draft the agreement for you, my assistance is limited to answering your legal questions. I apologize if this was not clear prior to placing your deposit, do you wish to proceed?