Hi there,
I am in the process of developing a script for code canyon with a partner. We are going to split sales 50/50. However, I am wondering the best way to do this. Should we set up a new account that we can both access?
How do other teams doo this?
Any advice would be great, thanks!
You can only pay out the whole amount to the one person that owns the account.
You have to split the money after one of you received all of it, you cannot split it on envato.
Depending on your countries and their laws, you could form a company and create a new account in name of that company, and a bank account for that company that both of you can access.
I cannot give any advice there, you should talk with some business consultants or tax advisors.
Thanks for the reply.
We would be based in different countries. Maybe we can just split it after the payout has been made. I guess it can be done if we are both sole traders rather than a company.
In that constellation, it might be that it is like one of you is hiring the other.
So you are hiring your partner as a freelancer for his works on the script, and pay him for that.
Or the other way around.
Iād really advise you to contact a professional here.
Yes it would be me hiring him, but would want to work on various projects. If I were to hire him and then sell the product, I assume I would have to own the rights to his code. I would do the design side and he would do the coding.
Every country have there own laws you should consult your lawyer because they can help you with the law.