Transfer of development into my company

**DaveB** · 3 September 2009, 12:35

Originally posted by dx4100 View Post

Hi All

Looked around the net but the information is sketchy so wanted to see what you guys (or girls

) thought.

Me and a friend have formed a new company and we need to "sell" the developments we have been working on to our new company and transfer all ownership to the new company.

Is it as simple as me and my friend invoicing the new company selling each product for a £1. Then a simple contract stating I transfer all ownership to the new company ? Anyone got a bit of a tempate document if so ?

Cheers for any advice

If you have both been working as contractors with your own ltd's it should be easiest to simply sell your shares in your co's to the new company in exchange for an appropriate number of shares in the new company.

Paperwork should be straightforward, transfer of ownership of shares and a memorandum from the original companies agreeing to the merger and signed by the respective directors.

**VectraMan** · 3 September 2009, 12:48

You mean you've been developing some software (or something) yourself and now you've started a company to sell it?

I wouldn't worry about it. If it's not sold anything yet, then it's a bit hard to put any kind of value on it. And nobody is ever going to be in a position to dispute anything like this, except you, and you won't.

**dx4100** · 3 September 2009, 13:44

I dont think I explained the sitaution very well. Its ok, its been resolved now I think.

Thanks anyway.

**Dearnla** · 3 September 2009, 15:10

If your development can be said to be some form of Intellectual Property, you could always Licence it to the newco and pay yourself a Royalty.

Transfer of development into my company