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The percentage can really be whatever you jointly deem to be appropriate. In many situations, one owner will be solely responsible for the finances while the other will be solely responsible for the actual work. In such a scenario, the parties might agree that these aspects are equally important and therefore make the percentages 50/50.
In your situation, it sounds like you may be contributing a greater portion than your partner. If this is the case, you might consider the percentage of the contribution of each of you and then use that number to determine the profit for each of you as well.
Also, several customers have asked how they may direct a question to me in particular. If you specifically want me to assist you in your legal matter, just put "FOR JOSEPH" in the subject line and I will gladly pick up the question as soon as I am on-line.
Sorry for the delay, I was engaged in some 4th of July activities. At any rate...
If he contributed in anyway, then he certainly has a claim to financial gain should the venture prove profitable. If you saw the movie Social Network or even know the story of Facebook, that might give you some idea as to what might occur. In that situation, two brothers claimed that they gave the founder of Facebook the idea for the social website. When the founder gave them no money, the brothers sued. They ultimately received millions of dollars.
My point being, if he was involved at all, and you state that he was, then you would be wise to ensure that he receives some compensation.
I am going off-line for the evening. Please feel free to respond, if necessary, and know that I will be back on-line tomorrow.
Thank you for your patience.
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