We are based on Uk and we soon be ready to release our first title. We come to a point now where we want to open a company that is shared between in our team. We done a bit of investigation and we could potentially all register as a shareholder and go for a limited company. Procedure for this seems simple as we can simply go to the website and fill the necessary forms.
What I would like to know is , what would happen if some of the team members decide not to become part of the overall company but simply would like a share from the profit we made from the game we worked on together? Can they become freelancers or contractors who could just ask for a share from the profit made from the game? If so, what sort of Business & law paper works we need to fill in? if its not are there another ways to do this?
Please keep in mind we are from UK. if your not in same region please at least provide us with the information of where you based on.
Thank you so much.