My co-founder and I will soon launch a micro ISV. Our current agreement states that we split ownership 50-50. However, since we reached the ownership agreement the amount of work we have put into the venture has been very unequal. I've done approximately 80% of the development (and idea creation) so far and I feel I should be compensated for my efforts.
My question is, what is the best way to handle this problem? Here are the options I've come up with so far:
- Renegotiate the ownership split
- Declare the difference in work as a specific dollar amount, and take that out of future revenue off the top
- Declare that profits that would otherwise go to him go to me for some period of time
That's what I've come up with so far. Is there some standard way to handle this? Ideally provisions for this would have gone into the original agreement, but we did not put those provisions in the (very loose) contract. A learning experience!
I would like to get this out of the way to preserve harmony between the two of us; I fear that I might become resentful over time. My co-founder has demonstrated no ill-will about the work; unforeseen family obligations have taken up much of his time. We also did not clearly define work expectations at the outset, which is another learning experience as well.