What is the legal side of registering a business software?

1 Reply

Hey, I'm new to this forum, real estate business as well!

I have been working in the finance sector for the past two years and was being involved in a few real estate deals. I still don't have adequate expertise in this area, but got too much interested in this as I could earn better here than my regular job, even though I wasn't putting my entire energy and time.

Before the pandemic, I was getting ready to be a full-time real estate person and was up to tie up with a reputed team. It has been a few months since I wasn't getting any updates from them, but now they are back and the plan is on again.

As I mentioned before, I have to gain more knowledge and real-time experience in this to be independent. As of now, this opportunity seems reliable for me to work under a renowned team.

I will not be just a working partner but an investor too. We are planning to launch our first project on a big scale like we already have a registered office in Michigan, and now up to purchase project management and customer care software. Despite buying the software on company name the higher authority is preparing to purchase it on individual responsibility. The project management software is already bought in the name of a person. Now it is my turn to acquire a SharePoint help desk system.

In the beginning, I had no issues with this as the particular product was suggested by me and I was planning to invest in it! I wasn't a business person, so I discussed this with my friend, he said the plan doesn't sound good, so I should speak to some experts regarding the pros and cons of this purchase, that is why I'm here.

I will add a link to the product details, this was being used in my previous work and so far there are no issues reported. I will be paying the initial amount only, and I don't want to be the only responsible person for the future maintenance or customization charges(I don't mind being a part of the same, but can't fully afford the entire cost!). In this scenario, is there any possible legal consequences if any kind of dispute arises in the future?

I'm not sure I could explain my query in the best way, but I don't mind providing more information if needed, so feel free to ask. I'm a noob when it comes to real estate or any other business and especially when it comes to the legal side.

Please help!

@Nancy J. Mejia

So, what is your investment question?  Are you an employee or an independent contractor in this situation?  Basically, the "group" that you are partnering with is individually buying resources to run the "company."  Is there actually a company? i.e. a legal entity?  In fact, what is the business plan?  From what little you've presented, it sounds like an "amateur" business setup, if you'd call it that.

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