How will Novlr ensure transparency and accountability in the distribution of profits among co-owners?
Please read our letter of intent for an overview on how we plan to ensure transparency and accountability.
Like most early stage businesses, we are a long way from being profitable enough to distribute profits to anyone. However, when we do, we intend to make it as clear as we possibly can. Depending on the percentage of the business owned by the writers, that amount of profit will be distributed to writers. That distribution will be based on how many credits you hold.
So, if we make $100 profit and writers own 80% of the business, they get $80 split between them, based on how many credits each writer holds. So if we have 10 writers, who each have 100 credits, it would be split equally — so $8 each.
Like most early stage businesses, we are a long way from being profitable enough to distribute profits to anyone. However, when we do, we intend to make it as clear as we possibly can. Depending on the percentage of the business owned by the writers, that amount of profit will be distributed to writers. That distribution will be based on how many credits you hold.
So, if we make $100 profit and writers own 80% of the business, they get $80 split between them, based on how many credits each writer holds. So if we have 10 writers, who each have 100 credits, it would be split equally — so $8 each.
Updated on: 20/07/2023
Thank you!