Partnerships in Film Production
One way to finance your film production is through a joint partnership. Partners in a joint venture arrangement may combine their financial, creative, and business resources together to produce a movie. For example, one person may own a camera rental company while another one owns an editing facility. With a producer and financial backing, they agree to work on a common film project they are interested in. In a joint venture, if one of these partners accumulate debt related to the film project, the other partners are liable to it. Each partner can buy services and good as well as borrow money. If the partnership lacks funds to cover the debt owned to, for example creditors and IRS, each partner’s personal assets are subject to attachment and liquidation to pay the money owed.
This entry was posted on Thursday, April 30th, 2009 at 1:09 pm and is filed under film. You can follow any comments to this post through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
