Hello there,
I am starting a new business (a high tech company providing software solutions) with a partner and I would like to know the fair percentage of the profit for both of us given the following facts.
1 - we practically need zero cash investment to start and since our product is a software, we will have very little expenses.
2 - I will be working full time in the company and my partner has his full time job as a professor in a university.
3 - The technology is based on advanced mathematical algorithms that is invented and implemented by me.
4 - I have been working with my partner (as a researcher, not a student) in an academic environment and he was my supervisor. So, out of loyalty, I like to have him on board now that we can make money.
5 - He will bring his reputation as a university professor, he will NOT take salary, I will take a reasonable salary.
6 - From a technical point of view, I will be doing all of the work and he will bring ideas, past experience and time to participate in meetings and make decisions together.
7 - Because of the above situations and no money investment, there is very little at stake except our time.
I know there is no right or wrong answer but I appreciate if you let me know your thoughts or suggestions.
I want this to be fair for both parties. Please indicate what percentage (of the profit) would you consider for me and what for my partner?
Thank you very much for your advice,
Regards
I am starting a new business (a high tech company providing software solutions) with a partner and I would like to know the fair percentage of the profit for both of us given the following facts.
1 - we practically need zero cash investment to start and since our product is a software, we will have very little expenses.
2 - I will be working full time in the company and my partner has his full time job as a professor in a university.
3 - The technology is based on advanced mathematical algorithms that is invented and implemented by me.
4 - I have been working with my partner (as a researcher, not a student) in an academic environment and he was my supervisor. So, out of loyalty, I like to have him on board now that we can make money.
5 - He will bring his reputation as a university professor, he will NOT take salary, I will take a reasonable salary.
6 - From a technical point of view, I will be doing all of the work and he will bring ideas, past experience and time to participate in meetings and make decisions together.
7 - Because of the above situations and no money investment, there is very little at stake except our time.
I know there is no right or wrong answer but I appreciate if you let me know your thoughts or suggestions.
I want this to be fair for both parties. Please indicate what percentage (of the profit) would you consider for me and what for my partner?
Thank you very much for your advice,
Regards
via Small-Business-Forum.net http://www.small-business-forum.net/starting-your-business/9662-percentage-profit-split-special-case-please-advise.html
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