Joint Venture v. Partnership

[TraciKnoppe]

A partnership is a legal business entity and is defined either via a true business partnership or via one of a few corporate status' you could go through for your company with you two holding positions within the company (President, CEO, etc..). So a partnership is literally how you have your business setup legally for tax purposes, and also how you choose to run your business on a day-to-day basis as well.

A JV partner, is someone you partner with for a specific project only. You collaborate for a special promotion for a product or launch with terms you have defined between the two of you.

For example: if your friend is the one who has written the book, then you would be her JV partner and would then promote her book for a % of commission from the sales you make selling her book. You could choose to do webinars together, or you could promote her book via your mailing list or however you want.

[retta719]

What you describe sounds like a partnership to me. You're both bringing something to the business model. Remember in a partnership it's not about who did more of what, but about the big picture of the plan as a whole.

You're helping her with the classes already, and she'll be helping you with the membership site, so why not wrap it all up under one umbrella and work it all together?

[ScottTousignant]

This is a definite partnership. Without her material you wouldn't have a site, without your marketing you would have a platform to sell.

I've done partnerships and don't like it all that much. But if you guys have been working together for several years it should work out well. As long as she's providing regular content you gals should be good to go.