Borrowing Website Domain

[LegalSuggestionsNeeded ty]

Jurisdiction

California

Hello,

I own a domain, and I have a lot of merchandise to sell under that domain. It was an idea I've had for years, but I put it on pause as too much going on in life.

A friend of mine loved the idea. He wants to run my idea or business and take it over 100%, until I decide to take it over, all he wants is part time extra income.

So far, hes been selling my merchandise for about 7 months on social media on his accounts and he takes a percentage on every sale, but he really needs a site to get things going even better.

I have a domain I bought years ago, that's business related. I'd like to transfer my website domain so he can have a better presense and sell more overall with a website. I love the way things are now, he does all the work, hes selling my merchandise under his business, he just sends me a check every two weeks. But my domain name would really help sales and business.

I'd like to transfer my domain to him, but only for a limited time, say 3-5 years. Until my kids are out of school, once they're done with school I'd like to get ownership of my domain again so that he no longer sells my merchandise but I do.

He is completely in agreement with this. He just likes that he can sell my products in the meantime and we both think the website would really help the business. He's willing to transfer ownership of my domain once I decide I want it back or once Im ready to run the business on my own.

I have enough merchandise to keep him busy for years, so I told him even once I run the business, I should still need his help, hes just happy to just be able to have a side gig.

Can I make a contract that he has to transfer domain to me in the future. And in the meantime, have him put it under his name get the business license under that domain name etc.

I don't want to be involved in the business license or anything of that sort for now, just way too much going on. I just like to receive my check every two for my items he sells for me and let him run things 100%. But he really does need my domain to get things really going.

Can I make my own contract without a lawyer. The business is good, but not good enough to be paying for lawyer fees etc. So wondering if I can write a contract myself, if so what would I need to make sure to put on it. Or is there a template I can use.

I did talk to an attorney and right off the bat they mentioned it'd be about $4,500. At this price range I'd be losing money. I'm ok paring a few hundred dollars or maybe up to $400 or $500 but at $4,500 I'd lose money.

I would appreciate any advice.

Thank you

 

[adjusterjack]

First of all, I suggest you lease it to him, not "transfer" it to him. Otherwise, if the friendship goes south (as many do when friends are in business with each other) you'll nver get it back.

Can I make my own contract without a lawyer. The business is good, but not good enough to be paying for lawyer fees etc. So wondering if I can write a contract myself, if so what would I need to make sure to put on it. Or is there a template I can use.

Sure, you can write your own contract. Nobody here is going to tell you what to put in it. You might be able to find a template on line for "leasing a domain name." Try a search.

Just make sure you keep control (ownership) of your property and have a secret back door that you can get into to retrieve it if necessary.

 

[army judge]

I would appreciate any advice.

Never expect anyone to do something better than you could do it yourself.

Never give friends or relatives total access or control over something you value highly.

If you allow someone other than your spouse access to things you place in high regard, expect to see the item's value diminished or destroyed.

Author's caveat: On occasion, a spouse might not hold the THING in as high regard as you. Proceed with deliberation in caution in anything you plan to do. Know this, very often you'll perform far better in doing the THING you entrust others with doing.

Know this, no one will protect and treat your things the way you do.

Again, more often than NOT, giving others access and control to things you own ends in disaster, turmoil, grief, stress, anger, and angst.

Finally, there's a two letter word that performs better than a three letter word, which means the opposite.

The word works well.

The word is NO.

Don't hesitate to use it.

I'd rather break my own stuff, than watch a so called friend do it!!!

 

[zddoodah]

I'd swear there was a virtually identical post about a year ago.