A good friend of mine has a great idea for a project. He has more experience than I have, far more connections, and some awesome skill. He has some ideas on building tools for some major corporations, and I think the ideas have some serious legs.
His offer to me is that I would do the majority of the coding and he would be doing more of the client connections with some of the coding.
Based on his experience and connections, I don't really have a problem with 51/49 whereby he is the majority share holder, however I still want to protect myself in the event that something "could" go south.
So, based on the fact that he's more qualified to do the work, has the connections, and has the idea, I think that he's right in asking for 51%, however I just don't want to get screwed.
Can I get screwed as a minority share holder? Are there any pitfalls to this?