Ask her what, in her mind, is fair. If she says "we should do 50% 50%" and she won't give you the credit for starting the venture, you should think twice if you

Ask her what, in her mind, is fair. If she says "we should do 50% 50%" and she won't give you the credit for starting the venture, you should think twice if you want to establish the partnership with this person. If she says "you did most of the work. 20% is fair" you should do 50/50 with IOUs and vesting.* *Partners are working full time on this. Here is a good summary of how to pick a cofounder http://venturehacks.com/articles/pick-cofounder http://venturehacks.com/articles/pick-cofounder