Business Proposition
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- kgvs72
These guys are talking about creating a blog about Chicago (nightclubs, restaurants, reviews, articles, etc.) It's five of us, and yesterday I met with them. They want to start collecting money every two weeks ($20 per person), so that the name and logo is trademarked and we sign confidetiality agreements.
What do you guys think? Is it a little strange?
- acrossthesea0
Yeah, that's strange.
- max_prophet0
these guys, us, them, they...
- max_prophet0
ps. anyone can put ™ on a logo
- dibec0
yes/no. relatively safe ... 20 bucks vs. asking for $1000 up front. I guess it just comes down to risk ... being 10 bucks a week and having potential to harvest more in return is an idea. pending what is in the confidentiality agreement could be the breaker.
- ukit0
So you are going to incorporate and trademark but you only have $200 in funds/ month?
If you are serious about it, just drop the money on the costs upfront (incorporation seems worthwhile, trademark MAYBE but could be a waste).
- max_prophet0
what is the money for exactly?
a couple of bags of chop by the sounds of it
- max_prophet0
what has to be confidential?
a confidential blog sounds kind of pointless
- eating_tv0
Call the Treasury, ask for monies there.
- vaxorcist0
Hmmmm...
I can imagine an "are you serious" escrow, where if you commit to a project, and you don't show up, you owe the other people $20, but I don't understand what they're asking for, unless it's for incorporation fees and such.....
- So that when the time comes for Incorporating or any other expenses we don't have to cough up a whole bunch of money.kgvs72
- blaw0
I'm pretty leery of partnerships. Obviously, they have their benefits, but starting up a new venture is so much work, even when you have full control. How does a five-way partnership work, exactly?
That said, if it's so herky-jerky that they are asking for cash and you're scratching your head, I'd say this one is off to a less-than-desirable start.
- d_rek0
The word that should be making alarms go off in your head is:
Blog
- boobs0
Who the hell wants to read about Chicago?
- airey0
committees often end in tears.
if you're all serious and think the brand needs to be protected (which is the ® symbol. ™ is free to place and protects you as well as a chocolate bar wrapper works as a condom - legally speaking) then you should all pony up the cash from the get go. that will sort the men from the boys as it were and reduce a 5 man committee to something more workable. if all 5 are still in then at least you know you're all serious.
in my experience it's very easy for a bunch of scmucks to sit round discussing world domination and for it to go nowhere as they don't have to legitimise the decision through any real cost except a few hours here and there. get the cash, organise timelines and schedules and more importantly milestones and then see how many are left standing.