Does anyone have any agreements that would cover the ownership of a domain by a group of 3 or more individuals?
When several businesses buy into a single domain for marketing purposes, it saves everyone money. Unfortunately problems can come when the group is successful or if the group decides to dissolve, unless you do this one thing.
The best time to layout ownership rules for a domain name is before you get started on a joint venture or co-op marketing campaign. Depending on the rules of your state … it's useful to setup the domain name as an asset of a jointly formed LLC for the sole purpose of a joint venture or marketing agreement.
Terms of the corporation will define the purpose of the domain and how the domain may be disposed of should the joint venture end. You'll want to talk with your lawyer and register the domain name to the new organization.
Domains are business assets just like anything else, it's the same if you were to go in together to buy a large machine or equipment for a business. You'll also want to consider …
- What marketing efforts and considerations are necessary to driving traffic to the domain?
- How space will be handled on the property and who is responsible for direction?
- What content will go on the domain and how will it be developed?
- How will domain revenues be distributed in ownership and from disposal of the domain?
That's the great thing about a business structure, treat it like a business or partnership, use it to generate revenue and everyone will be happy. The law will guide the structure and all you need to do is focus on making money.
Remember, your industrial web site is about generating revenue, not just owning domain names.
You'll find this type of joint domain name relationship works great to generate leads, reach new markets, or drive traffic to individual sites from a communal resource. Just go beyond the domain itself into marketing efforts and you'll create the results you seek.
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Justin Hitt helps industrial and technology businesses reach buyers while turning business relationships into profits. For strategic tools, visit https://iunctura.com/