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I'd suggest agreeing to the 60/40 split. He'd feel like he got what he wanted & you would launch your 1,200 hours of work. HOWEVER, would it be possible to stru
by MrFlibble 16y ago
I'd suggest agreeing to the 60/40 split. He'd feel like he got what he wanted & you would launch your 1,200 hours of work. HOWEVER, would it be possible to structure the 60/40 split so that any shares handed out in future rounds of funding will come from his 60% since he is the "business guy"? If you can do that, then your minority % may become an equal or even greater % as the site grows & needs capital for expansion.
My project has me holding onto the majority of shares, but with the full knowledge that those shares will be the source of shares allocated to investors as more capital is injected. Unless he is a greedy bastard I don't see why he wouldn't consider something of the sort.
- jacquesm 16y agoI would think that would lead to the OP being sidelined completely and screwed out of his 40% after a while anyway. If you can't get to an agreement based on a 1200 hour chunk of input then you have a problem. No point in going further with this person.
- MrFlibble 16y agoSure he could be sidelined if the paperwork is poorly drafted, it would all depend on how strong that 40% agreement is. Really if he wants to get something for all that work, 40% of a project that exists is better than 50% of one that doesn't. Yes it sucks, but it is better than walking away. Whatever he does, I think the OP needs to paper up in a way to ensure the partner cannot dilute the OP at a greater rate than himself.