Hey Chris, I've been using a similar structure for some of my projects (all involved track their billable time, which is paid off first in equal proportion, then any remaining upside is split down the middle).
I haven't formalised either, so no contract to give you unfortunately, but wanted to touch base in case we end up thinking about or writing anything which is mutually beneficial.
Some universities have umbrella corporations/trusts set up where students making a mini business can do it under this legal entity and just tell them in plain-english how they want any revenue to be split up. Since the students trust the university, it more or less works out, although someone at the top needs to bear the legal costs/risks.
Anyway, my email is robftz@gmail.com if you want to discuss further.
I haven't formalised either, so no contract to give you unfortunately, but wanted to touch base in case we end up thinking about or writing anything which is mutually beneficial.
Some universities have umbrella corporations/trusts set up where students making a mini business can do it under this legal entity and just tell them in plain-english how they want any revenue to be split up. Since the students trust the university, it more or less works out, although someone at the top needs to bear the legal costs/risks.
Anyway, my email is robftz@gmail.com if you want to discuss further.