Hello,
I have finished a mobile app and I have one that is unique and has had a huge positive feedback from the people I have shown it to. They were not just being nice either as friends may be. lol So marketing is not my thing. I love to develop but thats it. So I decided to respond to some ads on craigslist under resume where people does marketing. I told them about my app with screens and wanted to see what they could do to help. Most wanted a lot of money as payment to do it. And one other said he would do it for 20% equity. He did not want a percentage of the sales but equity instead. He said I would be earning at least $10K per month with it. I expressed my concerns about being locked in with him and worried what to do if he does not succeed with what he says. He then said he would give terms that if I do not earn $20K in 4 months that I keep all the earnings and cancel the agreement. Otherwise he keeps the 20% forever. What if the following year he doesn’t do anything? What if he got put in prison or seriously sick? I don’t want to give 20% if that happens.
So how is this handles? I don’t have the money for a lawyer so I’m trying to find out from others what they suggest.
Thanks!
Warren