How Do I Locate Information on an Investor in the Phillipines?

Full Question:

Where can I find information about a partnership with someone in the Philippines. US resident (51% partner), Philippine resident (49% partner). All drafting work produced in Philippines and e-mailed to US. All sales are in US.
07/20/2009   |   Category: Contracts ยป Finder's Fee   |   State: Texas   |   #17671

Answer:

A finder's fee is a fee paid to someone who acts as an intermediary for another party in a transaction. Finder's fees may be offered in a variety of situations. For example, an employer may pay a finder's fee to a recruitment agency upon hiring a new employee referred by that agency. A finder's fee may be paid regardless of whether a transaction is ultimately consumated.
In a corporate context, a company seeking a merger or acquisition may pay a finder's fee to a person who locates a prospective company for the transaction desired. It may be in the form of a performance-based commission, where the finder gets paid upon closing of a sale. Usually the fees are paid by the seller, but in some cases the buyer pays the commission.

Rather than seeking potential investors, you might use the services of an investment banker or a finder. If you decide to use a professional agent to locate investors, the agent will agree to use his or her best efforts to find investors willing to listen to your proposal. The agent will not actually make the proposal and will likely charge between 2 and 6 percent of the total amount raised plus a small stake in the company. These charges should be on a contingency basis only, which means any fees (other than in some cases a modest retainer fee) should be paid only upon the closing of the investor transaction. If an agent insists on a large retainer fee up front, you should seek another agent.

For further discussion, please see:

http://www.millerjohnson.com/pubs/xprPubDetail.aspx?xpST=PubDetail&pub=1536
http://archive.leg.state.mn.us/docs/2005/other/050397.pdf