I have a 33.33% stake in an LLC partnership, which was made with cash contributions. I have since developed software with an associate who is not part of the company that we would like to sell as software from the LLC Partnership. I understand from speaking with an IP Lawyer that since my associate and I developed the software, we are the owners of the code.
What are our options for an agreement between my associate and I and the LLC Partnership to lease or sell the software to the company? The LLC is a startup so the funds do not exist to sell the software, so we were thinking of setting up some form of rental/lease agreement. We are not looking to change the ownership of the LLC, but I want to assure that my associate and I receive a fair deal for the software we are bringing to the company.
Is this a good idea and what are some other options?
Unless you are prohibited from selling or licensing your software to others I would first consider deals with other parties. Unless the LLC has unique marketing and strategic partners that can assist you down the road.
Capabilities in mktg the software are critical..make your decision wisely....