Legal questions about setting up a foundation
Questioner
Last year, a friend and a local pub owner and I organised a big 3-day festival. We really enjoyed it and would like to organise it again next year. We are now considering setting up a foundation for this. For the following reasons: - We would like to attract sponsors (entrepreneurs) - And to be able to separate it better financially. Perhaps there is a better solution than a foundation? The following is the case: The pub owner has a lot of material such as: chairs, tables, coolers, bars etc. The other guy owns the light and sound. In principle I only bring myself as a person but no material. Now we don't really know how we can organize this. Because if we as a foundation rent the stuff from the companies of both, they can determine the price of the rent themselves. That is of course a difficult point to judge each other about. I hope someone can help us with this! We would love to hear from you.Lawyer
The points of attention that you mention when legally structuring your collaboration are difficult to reconcile. This is because you each have individual interests that could conflict with the goal of the collaboration. If all three of you can see the goal of the collaboration separately from your own interests, then setting up a foundation could be a good choice. It is then important to consider that if all three of you take a seat on the board of the foundation, your own interests and the interests of the foundation will be close together and that it is wise to consider in advance how you can ensure that the interests of the foundation take precedence over individual interests. If all three of you put your business interests first, the collaboration can also be shaped in, for example, a general partnership. You should then consider that it may then be less easy to attract sponsors / subsidy providers. Talk to each other about what you want and expect from the continuation of your festival and try to get in touch with organizers of similar events to find out how they have arranged their affairs.Neem de volgende stap
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