Can my LLC startup team compensation be postdated after product release?
by awilhite, Window Shopper
- Created: April 28, 2009, 1:09 pm
I am starting a small online media site under my LLC company and need to bring together a group of people as a low cost development team to create the product.
I want to compensate the team for the development cost/work by sharing the revenue received post creation, through royalties or contractually agreed payment based on the net revenue returns.
In short, I have a group of people willing to put in sweat equity to get the business started with agreement to share the returns if the idea takes off, otherwise not compensated if it is a bust.
I am unsure how to build this startup working relationship so that it is legally correct and from a tax perspective under an LLC company.
is there any advice on how best to set this startup business model up?
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