Legal Question in Business Law in New York

Re: internet store parnership

You really need to speak individually with your attorney AND your accountant. There are huge numbers of variables that affect the answer to your question, so your question cannot be effectively answered here.

Some things to think about:

1. Where does most of the money flow into the partnership from (are there any traditional sales or is this strictly e-commerce?)?

2. What will be the effect on your bottom line if you leave the partnership without rights to the domain name?

3. What is a "substantial amount of money"? In actual dollars? In percentage of your net worth? How much of a dent would your investment make in your savings? How much risk is involved for you?

4. What "equal rights" do you have if you have no rights to the domain name?

5. How long has the storefront been in business, and what are their annual gross and net revenues?

6. Have you seen a P&L statement?

7. Are they accredited by any outside organization (Better Business Bureau, Dun & Bradstreet,...)?

Please contact me (or your business attorney) AND your accountant offline to discuss this.

Good luck.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.

Re: internet store parnership

You will not own the most important identifying characteristic of the site,

with all the goodwill, if any.