I have been workng with UK firm on a contract (percentage on sale value). This is good contract for me as it is direct % on sale.
The company is based in UK and we have no sale sor last 8 months. The products are different softwares which we all think have good potential so invested significant time in development and now we are focusing on sale.
The UK firm is private ltd and head by one person and no other employee, he works from home. He want to secure his position by making me a partner into the firm. He has checked and it is easy as well as legal to appoint non british person as partner. To me the benefit in this case is I get profit share in other products of the company (although no sale in last 2 yrs for those products too).
I am bit affraid into getting into this, solely because I am unaware of consequences of getting into this kind of business deal. I am always thinking of haveing somethink similar my current contract and I should be able to pour money into business gradually. He is insisting me to partner, I know he is good and trustwirthy. I have been cheated for a huge in my last partnership with Pune based firm(with my good friends), so I am playing safe.