Originally posted by Putinbot1
Let's do this then, I have a vacation coming up in a few weeks once I'm out of Africa I'll look into the lawyer, if it's a go we do this with promises none of us will share personal info about each other publicly or privately.
Alright, let's do it, then.
This can get messy since money is involved. It's best if we do an even split with a trustee for all those that want to get on-board with this.
My estimate is this will cost us £1000-£3000 pounds in legal fees.
Let's get monetary commitments from everyone on KMC that wants to participate. Then find a trustee. Then start the process.
We can also start an LLC, get a tax ID (EIN), open a business account with multiple people having ownership control over the account, and then we all deposit it in the account. Or we just stick with a trustee.
Honestly, I trust Robtard. I'd be okay if we just transferred the money to him and had him take care of payments on our behalf. What are your thoughts?
So here's the outline of how we can proceed (using Yankee business ways):
1. Apply for an LLC.
2. Draft an Operational Agreement for all those that want to be co-owners. Split ownership exaclty proportional to money invested. Have all owners sign the operational agreement.
3. NDAs needed? I don't think so.
4. After operational agreement is signed by all partial owners, we designate Robtard as the trustee.
5. Transfer funds via paypal or whatever method to Robtard.
6. You lock down the UK lawyer for us.
7. Give the lawyer's invoice to Robtard when they come and allow the lawyer to do their thing.
8. Robtard pays the invoice as they come, as the trustee.
So what do we do if the "trustee" account runs out of money? And do we have all advertisement revenue drop into the LLC? If we do that, then we need to open a business banking account for ad revenue. We'd need to look into getting this site hosted in the cloud and consider the infrastructure costs (probably less than $100 a month in AWS).
I may be forgetting something. Read over my post and let me know if I forgot anything. Also, Robtard is definitely trustworthy. So is Backfire. So is Bardock42. But I haven't seen Bardock around.
You are the best person to handle operational issues in the UK and coordinate with the lawyer because the site is owned by Raz who is in the UK. So I think we'd have to do all the legal crap in the UK and you're the best bet.
Also, honestly, it would be a million times easier if there was just one owner. Having split ownership can get messy. Even though the operational agreement would have multiple parties listed with the option to vote someone out with a majority vote (this is standard), it still can get messy. Probably best to avoid that. One owner is best.