I left a firm at which i worked at for 15 years and had a very large client offer to follow me when they heard i was leaving. I worked out an exit strategy with my previous employer and agreed to pay him back a percentage of his loss in profits due to the client following me.
I could not totally go out on my own because i am not a licensed professional in the field that i am in so i joined forces with a colleague i knew who is licensed and has an unlicensed partner. They currently have their own company and we agreed that we would start a separate company to which i would bring my client and expertise. they would assist in funding the company for 6 months. Its been six months and they've funded me till no and they have just been paid back every penny and i can carry myself. The licensed partner only reviews documents for about 1 hour a week and the unlicensed partner has put about 30 hours into the company in the last 6 months. Our original agreement was that i would have a salary (they don't get one because they have a separate company which they make a salary from) then i would pay my old employer first before splitting profits, then they would get each 50K and the rest of the profits would be split 50% me and 25% and 25% for each of them. We are now about ready to get into the partnership agreement and discussions about long term, since i will technically not need them once i'm licensed in 3 years, so i told them it should be 70% for me and they split 30% once i'm licensed and that i should be running the new company since they have a separate company that they are running.
I'm being accused of being greedy, but the way i see it is i could have gone to any other licensed professional but they could not have had the opportunity to make about 100K a year each for just carrying me and assisting me for 6 months.
am i wrong, should i continue with them knowing their mindset or just agree to move on once im licensed.
I could not totally go out on my own because i am not a licensed professional in the field that i am in so i joined forces with a colleague i knew who is licensed and has an unlicensed partner. They currently have their own company and we agreed that we would start a separate company to which i would bring my client and expertise. they would assist in funding the company for 6 months. Its been six months and they've funded me till no and they have just been paid back every penny and i can carry myself. The licensed partner only reviews documents for about 1 hour a week and the unlicensed partner has put about 30 hours into the company in the last 6 months. Our original agreement was that i would have a salary (they don't get one because they have a separate company which they make a salary from) then i would pay my old employer first before splitting profits, then they would get each 50K and the rest of the profits would be split 50% me and 25% and 25% for each of them. We are now about ready to get into the partnership agreement and discussions about long term, since i will technically not need them once i'm licensed in 3 years, so i told them it should be 70% for me and they split 30% once i'm licensed and that i should be running the new company since they have a separate company that they are running.
I'm being accused of being greedy, but the way i see it is i could have gone to any other licensed professional but they could not have had the opportunity to make about 100K a year each for just carrying me and assisting me for 6 months.
am i wrong, should i continue with them knowing their mindset or just agree to move on once im licensed.
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