SkinnyLuigi

Members
  • Content count

    4
  • Joined

  • Last visited

Community Reputation

366 Neutral

About SkinnyLuigi

  • Rank
    Newbie
  1. Hi everyone, I just had some quick questions about incorporating an indie game company in Canada. A friend and I are hoping to start our own game company and we're in Canada. We're a little clueless about a lot of things despite lots of research, and we're hoping to do all of this as cheaply as possible. I was hoping to get a few testimonials from people who've been there..   Questions:   Did you form a company first or a product first?   How soon did you copyright your company name (or did you?)?   Have you ever worried about people stealing ideas? Did you work out any legal stuff prior to releasing games, or did you just release them without worrying about it?   Did/do you hire professional accountants to do your business taxes or do them yourself? (I've heard costs up to $1000 which seems not unreasonable, but is this something you really shouldn't or can't risk doing yourself? What makes it so complicated, especially in the case of a very small and fledgling company?)   In what situations have you had to deal with (=pay)  lawyers?       I'm willing to spend the money when I need to, but I would just like to be careful and talk to a lot of people and see what path they chose.   Thanks for any random tidbits anyone can provide!   Kind regards, M
  2. Hello everyone,   I didn't want to just disappear, so I figured I'd chime in and thank everyone for the great responses! Great to hear what others have learned in their own experiences.   Things remain somewhat shaky with the relationship as-is, and I'm not sure it will last, but I'll keep everyone's advice in mind for future collaborative agreements.   Thanks all!
  3. Hello, A partner and I are looking at forming our own game company in Canada and things have been progressing well. We are at the stage where we are looking at the different types of businesses and how we should proceed forward. We had originally been considering incorporation, but looking at what is involved with costs and requirements, we have changed course somewhat. We are now considering forming a partnership and possibly (hopefully!) incorporating after seeing some success and moving this into a full-time venture. A question that has come up is how to keep a company "treasury". Our original intention with the newly founded corporation would have been to take all company profits and allot some percentage to income for ourselves, and the remaining percentage to the company treasury which would exist as a corporate bank account between us, and would belong to the corporation. I understand in the case of a partnership, tax-wise, all income is seen as being our personal income and the partnership itself does not exist as a separate legal entity. Presumably we would declare all income as partnership income, work out tax remittance according to the personal income tax rates, and what's left would be our salaries + "company money"; the company wouldn't technically exist as a separate legal entity, so we would need a partnership agreement explicitly requiring each of us to return some percentage of our incomes back into a shared bank account for further company expenditures, etc. Does this make sense? Is this contractual arrangement even legally possible? Has anyone else been in this situation and how have they arranged things? Any insights welcome! Thank you all!
  4. Hello, A partner and I are forming a startup to develop video games and we are working on our first game together currently. We are as yet unincorporated and in the infancy of development and are still learning the ropes as we move through the process of getting everything up and running. I was hoping for some advice about hiring contractors. We currently have hired two contractors to do art and music for us. We have basically no funds at all, and so we are promising shares of the earnings from the final product instead of upfront or regular payments during the development process. Contracts have been signed and are in the process of being formalized. Unfortunately, things have not exactly been working out satisfactorily; it's still very early in the process, but we consistently find that our contractors are noncommittal, lax with timesheets, and generally rather uncommunicative. We've spoken to them several times about this, but to no avail. The contractors are also acquaintances outside of his project, but are located remotely (while we are living in the same city). I'm just curious what most others' experiences have been as poor indie game devs working with contractors like this, and what we should really be expecting from contractors that we aren't even guaranteeing payment to? The two of us are long time friends and acquaintances and there is trust and constant communication between us; would we be better off building credibility (and cashflow) for ourselves and then paying contractors wages on subsequent processes? Could we generally expect to be able to find other more dedicated people to work with us under these same conditions? I was hoping to get some answers from experience. Please share any thoughts you may have. Thanks everyone! --M