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Starting a Business Creating and operating a new business.

How can i do this?

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Old Jun 11th, 2008, 12:07 AM     #1
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Default How can i do this?

Hello. My name is Mason, I'm an 18 year old HS grad, working the summer as a Forest Service Biology Aide. Next fall I'm headed to one of the nation's top ten liberal arts college which I can't wait to set foot on.

I'm thinking about starting a business. It's a unique idea, and would probably attract most of its capital due to novelty instead of profitability, but i need to know if it is: #1-Legal #2-Feasible

Ok, so heres the idea. It draws on the whole concept of “I'm investing in you, not this business/organization/etc.” I would form a LLP/LLC/trust that in essence, owns my future earning potential (perhaps as well as any future services I might provide). First we would solicit seed money, up to a determined amount (that represents what i believe I'm worth initially really). I, of course, would retain majority control and make decisions unilaterally. The investors would have a share of my earnings, accessible after a certain “release date”. This would work, lacking knowledge about anything else relevant, like a CD bank account (without the guaranteed interest if that makes sense). The website for the LLC/whatever would run constant status updates, feature a bio, and allow the investors to sponsor different projects to increase the LLC's earning potential. These side ventures could involve other factors as well.

That's the gist of my idea. Tell me what you think about its legal viability please.

Watching the MIT blackjack team special on satellite, the partnership would work like the one they formed i think, unless there happens to be a better vehicle for it. Anyways, thanks for hearing me out. Over and out.

*We would make it clear that this does not confer any ownership of anything else except potential earnings.
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