I am currently employed by a business man who often invests in new companies. I came to him with an idea and he wants to move forward with it. He has zero knowledge in this industry but I have ample knowledge of the proposed industry.
I need to make an income and cannot afford to work without pay. Since I will be paid as an employee for this "new" company", I cannot claim this as one of my investments. Therefore, my investment is the idea and business plan alone. How much of an owner/shareholder does this make me (percentage)? Please throw out industry standard figures, if you know.
Also, he owns a corporation that he would like this to be a subsidary of. is this a problem? Should we be a partnership or can we be a subsidary of his corporation and I'm a shareholder?
(any help is much appreciated- I am quite green at this!)