So Your "Friend" Asked You to Build an App

...or  "Other ways to ruin a friendship"

- @jaybobo

I am not a lawyer

I am not an accountant

The Basics

• yeah, you should get an LLC
• clients & shoes
• what's in an agreement?
• making sure you get paid
• when the fhit hits the san

Doing THE LLC THANG

• taxed like sole prop
• protection from liability
• simple paperwork
• creditors can't go after personal assets
• tax perks!

http://corp.delaware.gov/newentit09.shtml

TAX BREAKS

• work-related education
• meals & entertainment
• business trips & travel
• medical expenses
• small business equipment
• rent & utilities (home-based)

CLIENTS

PICK YOUR CLIENTS

• how much work is really involved?
• do you really want to do it?
• can they afford to pay you fairly?
• do they have any money?

translation costs!

AGREEMENTS

WHATS IN AN AGREEMENT

• payment terms
• expenses
• ownership
• breach & remedy
• liability
• indemnification
• confidentiality
• governing law
• termination
  
• etc

GETTING PAID

payment on delivery

50/50

30/40/30

GETTING PAID

• mitigate your risks
• maintain your integrity
• communicate often
• hold assets if needed

PREFERRED PAYMENT TERMS:

PAYMENT IN ADVANCE

PREFERRED PAYMENT TERMS:

PAY PER TICKET

THIS IS MAYBE THE 4th

TO LAST SLIDE

MONEY AIN'T EVERYTHING:
Agreements

FYI

• lawyers are expensive
• small claims is a hassle
• documentation matters
• have a letter drafted
• time + money + stress

FIN

@jaybobo