DTR conversations can be awkward, but you'll need to have them long before you seek funding. VCs won't want to even talk to you if you haven't sorted out who ow

DTR conversations can be awkward, but you'll need to have them long before you seek funding. VCs won't want to even talk to you if you haven't sorted out who owns what within the company. If he'd be pitching investors without you, it's likely he sees you as a contractor already. If so, that's fine, but you should be getting some sort of compensation for it. If he does see you as a partner in this, it's as beneficial to him to iron out all the details before you move forward as it is for you. You don't need to make it antagonistic — start with an e-mail: "Before we get further in the development cycle, I want to make sure we have a clear understanding of what our roles are, what expectations we have of ourselves and each other, what investment of time and money we'll put into this (and where it's coming from), what equity we'll have in this business, and what our vision is for the next six to twelve months." Then, have a conversation — away from computers, but with a pen and paper — and make sure you're seeing eye to eye. Write up a "memorandum of understanding," print two copies, and both sign both copies. (Keep your copy somewhere safe. Also, scan it, and e-mail it as an attachment to him with a note: "Just a backup copy, in case both our houses burn down.") You'll probably need to revise it down the road. That's fine. But before you get too far into it, get it sorted out. Better for it to fall apart now than after you've sunk months of work into it.