I'm in an odd position of trying to form something like this (focused specifically on python development in finance). 2015 is hopefully going to be a good year - I actually have sort-of backing and if I can find time it might take off (god, just reading those caveats makes me wonder)
Anyway - I would be interested in any thoughts or traps to avoid - if indeed we are talking about the same structures.
Like in coding, complexity in a business partnership might be a warning. The book Managing the Professional Service Firm by David Meister has a lot of lessons for anyone running a traditional parter/associates firm, and the last part talks about splitting the profits. My read is that a "dumb" approach (equal split or simple seniority-based) is okay, and a "judgment" approach (publish criteria, but have a committee make the final decisions) is okay, but a metrics-based approach is risky. I agree, and for small operations I think the simpler the better. Anyway, if it's something you're thinking about, the book is a solid, meaty read.
Anyway - I would be interested in any thoughts or traps to avoid - if indeed we are talking about the same structures.
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