complicated partnership advice

Discussion in 'Growing and Managing a Business' started by colione98, May 29, 2010.

  1. colione98

    colione98
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    I posted a while back about a venture i was getting involved in dealing with radio broadcasting.

    The venture has stepped up in a sense that I have developed venue contacts to be broadcasted. But broadcasting at those venues have yet to have taken place and funds have not been coming in due to the fact that the main producer doesn't have the ability to make things happen.

    No agreements or proposals have been written between us or the venues because he as the owner of the business does not know of how to proceed with the process. (I am just helping him out with the hopes of becoming a partner once funds start coming in) Also, he has not followed up with those venues for the last 3 months so my rep is basically on the line because as they know, they were supposed to have been being broadcasted as of april.

    However, being part of another project, i have just been asked to partner up with another producer and become the assistant programmer.

    The new station is well established as a business and has all docs in check and is ready to run. Contracts are being drawn up to bill me in as a limited partner at 25% from all profits for the 1st year, 30% the 2nd, and full partner the 3rd year if all goes well. The idea is also to broadcast from venues and to host several weekly radio shows.

    Here where it gets tricky- i don't have a contract with the original producer much less have a sense of what my position is. We don't even have contracts with the existing venues.

    I know business can be cut throat but I am an honest guy. The idea is to arrange agreements with the original venues i contacted for the original project and start broadcasting FOR REAL with the new station.

    However, I can cut ties with the original producer as helping him out since there is no contract between us but i am still part of a venue that he continues to broadcast and will still have to provide him that service.

    In your business opinion, would it be alright to use the new station to broadcast from the venues that I contacted while with the original station considering there are no contracts with them or the original producer- or is that bad business and will it be considered shady?

    More importantly, how do i cut ties with the original producer without having to go into details about my new project and be subject to explanations?

    .....and I know you are thinking that there must be other venues to broadcast from- there are, but most of the ones I speak of have reputation as being the better venues in the area. Also, the contacts are via friendships that I have created over the years. The original producer does not know them on a personal level as I do.
     
    #1 colione98, May 29, 2010
    Last edited: May 29, 2010

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