What to Include in a Partnership Agreement

 

Partnership Agreement pic
Partnership Agreement
Image: thebalance.com

A serial entrepreneur, Bill Asher has started more than 25 businesses in his career. To position himself for success, Bill Asher partners with complementary people and organizations in many of his ventures.

Business partnerships should always be supported by a partnership agreement. This is a legally-binding agreement that clearly outlines the terms of the partnership and is signed by both parties. Here are some of the most important issues a partnership agreement should cover:

Partners’ roles. Business partners often have complementary skills. Each, therefore, should have his or her duties and responsibilities outlined in the partnership agreement. This allows each partner to know exactly what to expect from the other. It also clarifies the limits of each partner’s authority. For example, what a partner is specifically not authorized to do on behalf of the business.

Capital contributions. What assets and how much money and time will each partner contribute? Will capital contributions be the basis for profit and loss sharing?

Voting. Partnership decisions are often made by voting. A partnership agreement will set out the procedure for voting and the necessary quorum to hold a vote. It can even require that certain decisions be made only by unanimous vote.

Dissolution and partner’s exit. A partnership agreement should provide the criteria for dissolution once the business of the partnership is done. It should also address boardroom changes in the partnership structure. For example, what will happen when one partner wants to leave, dies, or declares bankruptcy?

New Claims Emerge Concerning Kim Kardashian’s Iconic Sex Tape

 

Kim Kardashian pic
Kim Kardashian
Image: maxim.com

Bill Asher is a well established executive in the porn industry who joined Vivid Entertainment, LLC as Co-Owner and Co-Chairman in 2001. Over the years, Bill Asher and the Vivid Entertainment team have helped establish the careers of many adult actresses who became household names, including Sunny Leone and Kim Kardashian.

Known today as a fashion icon and reality television star, the latter actress catapulted to fame with the release of a sex tape filmed with ex-boyfriend Ray J. After initially suing Vivid Entertainment for tape ownership, Kardashian subsequently settled for an estimated $5 million. Less than a year after the tape’s breakthrough success, she had the chance to become a reality TV star through the family-centered reality series Keeping up with the Kardashians.

In a recent wrinkle in the story, estranged husband Kris Humphries reportedly made claims that the tape was instigated by Kardashian’s mother Kris Jenner, with the original re-filmed, as it did not portray her in an attractive enough light. This claim has been countered by Kim Kardashian, who asserts that she did not confide about the tape with Brooklyn Nets star Humphries during their brief relationship.

Vivid Entertainment Pursues High-Profile Celebrities for Sex Tapes

 

Vivid Entertainment pic
Vivid Entertainment
Image: vivid.com

With industry experience spanning more than two decades, Bill Asher serves as Co-chairman and Co-owner of Vivid Entertainment, LLC. Over the years, Bill Asher has generated significant consumer interest in his company’s adult product through pioneering sex tapes featuring celebrities, including Kim Kardashian and Chyna.

Vivid has continued to stay at the forefront of this lucrative market niche over the years and has developed innovative offerings such as a virtual reality version of the Kim Kardashian tape. As reported in TMZ, Vivid has made high profile offers to potential celebrity actors with assets that it feels will attract widespread viewer interest and benefit the bottom line.

Golden State Warriors athlete Draymond Green recently received a six figure offer from the company to appear in a potential movie entitled Drayzilla. This offer came after Green accidentally posted a nude pictured of himself on Snapchat, revealing assets that Vivid executives felt would make him ideal for a high-quality porn production.

Also in early 2017, US Magazine reported that the star of Teen Mom OG Amber Portwood had received an $85,000 offer from Vivid, plus 35 percent of net revenues, for participation in a porn movie shoot. At the time of the offer, the 26-year-old Portwood and her fiancé Matt Baier described themselves as actively considering the film and impressed by the professionalism involved.

Early Hot Network Expansion through Broadband

A pioneer in the adult entertainment sphere, Bill Asher guides Vivid Entertainment in Los Angeles as co-chairman and co-owner. In that role, he leads one of the world’s premier adult content companies in continuously seeking expansion strategies. Bill Asher came to Vivid following two years as owner and operator of Califa Entertainment Group, in which capacity he established The Hot Network.

During his time with Califa, Asher was featured in a 2000 New York Times article focused on the adult pay-per-view movie channel’s successful move to an AT&T broadband platform, following the telecom firm’s acquisition of cable company MediaOne.

AT&T’s merger with MediaOne added 5 million cable subscribers and vaulted the firm into status as the largest cable operator nationwide. AT&T was able to leverage its market power in defining a new adult content strategy in ways that many local cable providers had not been able to do.

Hot Network was noteworthy in going beyond soft-core revenue models such as that pursued by the Playboy Channel. One key reason for the move was simple economics, with viewers willing to pay premium fees for hard-core content. As Asher described it, the content his company offered was “more appealing” than competing channels and thus made bottom-line sense.