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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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Our grandson is very good at MCing he has made 2 CDs paid for

Customer Question

Our grandson is very good at MCing he has made 2 CDs paid for with his own money he is making a video soon and someone has given him money to play for it, to sponsor him, how does he stand legally with this please?
Submitted: 1 year ago.
Category: Law
Expert:  Alex J. replied 1 year ago.
Alex J. :

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you.

Alex J. :

Is this money a loan or is the person making an investment and expecting a share of the profits and/or rights over the Intellectual Property?

Alex J. :

Kind regards AJ

JACUSTOMER-05hgll9h- :

We are not sure at the moment , the person is someone we know and they run a business and do not seem the type of person to give a fairly large sum of money for no return!

Alex J. :

Hi, Thank you. This legally is what you need to establish. If it is a loan then the only obligation on your grandson is to repay it (with any interest). If it is an investment and he is expecting rights to the intellectual property, then this obviously may affect what your grandson can do with that property when the video has been completed.

Alex J. :

Is your grandson likely to make any money from this?

JACUSTOMER-05hgll9h- :

not at the moment as he is just starting to see how good and what response he gets via internet exposure etc..

Alex J. :

Hi, Thank you. So if he does not have means to repay it, then perhaps a loan is not the best way to go, as it will put him under pressure.

Alex J. :

Have you asked this guy what he thinks he is buying - for example a percentage of Ad Pay that your grandson might receive on the internet?

JACUSTOMER-05hgll9h- :

No this has just happened and he was going to pay for the video himself as he is at work.

Alex J. :

Hello, I am sorry you are not happy with the service, I will opt out for another expert. Kind regards AJ

Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you with this.
For now please let me know what else is it you would like to know?
Alex

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