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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I am starting a joint venture with a small internet

Resolved Question:

Hello,
I am starting a joint venture with a small internet company. I am going to be recording videos teaching my subject, and putting worksheets together to make an 11+ online course. The company are going to do everything else from hiring out studios to filming, editing and marketing the videos. This course will be marketed on the web site of the company and sold on their web site. All revenue from the course being sold and any advertising and associated revenue with the course will be split 50/50. The copyright to the content will also be jointly owned by myself and the company, 50/50. I also requested that in the event that the company is sold I will still be able to own my 50% of the course and have 50/50 revenue. In the event that the company decide not to use the course, I requested that either of us can market the course elsewhere providing we still agree to a 50/50 split (not sure if this went into the contract though, or if it is even a possibility in a contract).
I have the contract they gave me as a word document (1921 words - five pages) and am not sure if they have had this done professionally (I think a template may have been used). I just want to check that the contract that I am signing is as I have described above. And, if not, could this be altered and/or made more ‘water-tight’ to ensure the contract is as it should be?
Kind regards
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you with this.
Can you please email it to:***@******.*** and I will take a look.
Alex
Customer: replied 2 years ago.

Hello,

Sorry for the delay- I am just emailing you the document.

Kind regards

Rebecca

Expert:  Ash replied 2 years ago.
Ok
Customer: replied 2 years ago.
Hello, I emailed the document to the experts email address. I hope it got there.
Kind regards
Rebecca
Expert:  Ash replied 2 years ago.
That is the admin address, it may take them a day or two to forward it to me, but I will respond when they do.
Alex
Customer: replied 2 years ago.
That is great, thank you for your reply.
Kind regards
Rebecca
Expert:  Ash replied 2 years ago.
No problem!
Expert:  Ash replied 2 years ago.
The agreement is fine, but what happens if you don't agree? It is controlled 50/50. You should say what happens in the event of disagreement of running. I see what you say about jurisdiction but doesnt say about what happens if you dont agree.
Alex
Customer: replied 2 years ago.

Hello,

Thank you for your reply. What type of disagreement? Do you mean in the running of the business? I don't forsee much disagreement in this way as my input is going to be to teach on the videos, and make up questions. The company are doing everything else, like editing videos, making worksheets look professional, marketing etc. Or do you mean in the event of selling the business? Or is there something I haven't thought of?

Also, if the business is sold on to a third party, would I still own my 50% copyright and revenue from sales relating to course and resources?

I was told by a contract solicitor that some of the phrasing is inconsistent and there need to be definitions at the beginning- is that right or is it ok as it is?

Finally, does the contract state that in the event of the company disregarding the course and replacing it with something else, we can both still sell the course elsewhere with the same 50/50 agreement?

Thank you again for such a quick reply.

Kind regards

Rebecca

Expert:  Ash replied 2 years ago.
Yes. The contract is fine save for any disagreement about running the business. You don't forsee one but what happens if there is? You are stuck in stalemate. I would certainly allow for this.
Yes If you sell title is jointly owned by the parties. I would also removed American z's in things like authorised etc.
Can I clarify anything for you about this today please?
Alex
Ash and other Law Specialists are ready to help you
Expert:  Ash replied 2 years ago.
Hi

I am just following up to see if there is anything else I can help with?

If this answers your question might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.

Alex