Quote Originally Posted by racin6mod View Post
As a bussiness owner/ racer I also sponsor a couple other guy's. I never buy the parts for them the way I look at it is I pay them for the sign on the car.I would not allow a sponsor to buy parts directly as that does make them part owner and the more they buy the larger their part becomes.I've seen the cloest friend's end up fighting over this stuff in the past.
I believe that is where my buddy and I lost, their is a major difference between sponsorship and co-ownership. After going through the legal battle the law seems to be clear. We to have others that pay sponsor money which is they give us cash or checks for their name on the car, the business was different, they bought the items and after talking to my buddy he said that the owner of the business did say that he was willing to buy into the race team, so I can see the difference of sposnor verses co-owner. not sure what clm5 case is, but if he can't prove he bought the times and the business can, i bleive he losses in court, or maybe he has already since he has not posted any further information.