That's a good question. Here are my initial thoughts on this.
1. I want to reserve ownership that can be exchanged for investment capital. The first round of financing, depending on amount, I would like to exchange for between 10 and 20% of the company. This would not dilute my partner's 20% ownership as I would be using the 80% ownership I have retained.
2. I realize that I cannot bring together a working beta and launch this on my own because I lack the programming skills. Hence, I understand that although the idea is mine, it has no value stuck in my head. I am willing and desirous to share the wealth. A piece of a decent-sized to really big pie is more than having a whole, yet very tiny (worthless) pie all to myself. I am more than willing to give my partner more ownership. I feel that increased ownership can be granted based on performance and meeting certain developmental goals that both I and my partner agree upon from the beginning in a written contract.
Last edited by bizdevelophelp4; 02-16-2011 at 06:03 AM..
Reason: poor grammar