I have a question about founder equity/partnership equity. Any advice would be most appreciated.
Approx one year ago, my partner and I came up with an idea we think would work as a mobile and internet app.
We have done the plan & biz plan and were all ready to go. Unfortunately my partner decided that it was too overwhelming for them to continue with the project on top of their current responsibilities.
There is no company set up but we had started with a 50/50 agreement when we started out approx one year ago. We have also only committed time instead of money to the project at this point.
So my question is how to go forward. Who should get what %? I am going to continue on with the project but my partner will not have any further involvement going forward.
Any advice at all would be much appreciated.
Many thanks in advance,