Forming online business partners overseas?

Discussion in 'Growing and Managing a Business' started by JBMedia, Jun 26, 2011.

  1. JBMedia

    JBMedia
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    I know the legal documentations and round abouts in starting a partnership within the same country I reside, but is it the same way with starting a partnership with someone from a different country?

    Is there legal documentations you can do for a business like this that can hold both party members responsible for losses?

    Just a thought that popped into my head.
     
  2. JPM

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    Which country are you based in? I believe it is different in different countries.
     
  3. Fergal

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    JBMedia I would say that the most important thing to include in a partnership agreement between businesses in different countries is a term specifying which country's laws apply to the partnership. So if for example you are based in the US and are entering into a partnership with a business based in Europe, you could draw up the partnership agreement as you normally would, but also include a term in it that says that the partnership will be governed by US law.
     
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  4. JBMedia

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    Thanks Fergal, that makes sense. I'm just never sure what doors might open and I just want to make sure I'm secure no matter what.

    @JDM I'm based in the U.S.
     
  5. Casey

    Casey
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    Interesting Q.
    What if the partner is not familiar with the US law?
     
  6. JBMedia

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    I would assume at that point, when they are signing the paperwork for the partnership they would understand that it will be governed by the whichever country's laws at the time of signing and if not, they probably would more than likely do their best to get familiar with it before running paperwork through to ensure that they also don't put the business at risk.

    However, I'm sure there have been plenty of questionable problems with this in the past.
     

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