>keep him as a freelancer and pay him based on some work he completes (paying only if what we build turns out to be profitable) No. Either he's a cofounder and

>keep him as a freelancer and pay him based on some work he completes (paying only if what we build turns out to be profitable) No. Either he's a cofounder and making money based on that, or he's a freelancer and you're paying him either way. Craigslist is full of "make my site and I'll pay you if we're profitable", and it irks me every time I see that. Any coder that agrees to that is being taken advantage of, straight up.