Am I being asked to be a fool?
I have to apologize, but I do have to be a little vague.
A few years ago, I had the idea to create a very unique kind of a Event/Festival. I created an opportunity with a friend of mine, who is also one of my clients. Eventually, the owner my my company got involved and a partnership was created, in the form of an LLC between the company I work for and my friends company.
There was a very small start up cost, each company put in $2,000 to cover start up expenses and i brought in the revenue in terms of manufacturers that I do business with.
Here the problem. When th LLC was created, no form of compensation arranged for me. Iniitially, we reimbursed the seed money and split the remaining money three ways. Until the event started becoming successful. At that point in time, my employer started discussing labor as part of my salary.
As it's a separate LLC, we negotiated that I take 10% of the gross and I thought everything was fine.
Now I am being asked to write up, what and how I do things, es well as turn over all copies of my contracts.
Let's face it, this is my ace in the hole.
Do i need to legally turn this stuff over to them? How to I keep myself from becoming used?