Q: Choosing right type of contract
hi, I am planning of developing a software with help from my friend who has a company. We want to develop this product which is my idea through my friend's company developers. After product is completed I will market and sell it and we will share the profits. What kind of contract/agreement does this scenario fit into? Partnership agreement? Joint Venture? .....His company is registered in Texas and we both reside in Texas
A:
The name of the contract isn't as important as the contents, and the contents are very important to protect you. Talk to a local business lawyer about getting a contract in place (that addresses IP ownership, rights, responsibilities, insurance, indemnification, revenues and many other matters).
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