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Let is say two people start a t-shirt business... one of the people doing the business is an artist who does the designs for the company, such as designs for the shirts.When these shirts get sold ($40 for a shirt for example), and the t-shirt is paid for, how is the money split among the two who is running the business?
For startups and new businesses, I would recommend
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Since you have not legally formed a partnership, likely would be 50/50. I suggest you form a legal partnership so everybody is on the same page.
You must document the ownership percentage when you do this and the profits must be split accordingly. Linked below is an article giving advantages and disadvantages. Also has a link to nice table. It confirms what i've said above.
chick the web
http://orbitbusinessloans.com/
http://orbitmerchantsolutions.com/
This would have to worked out between the two owners in a written and signed agreement. this can be 20/80, 30/70, 40/60 or 50/50
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