i'm starting an LLC with a close friend. we're making mobile apps. i'm the developer, he's the graphics guy. we plan to make and sell several different apps. i'll be working full time on this company, and he'll be working part time. i'll be doing 70-80% of the work. however, he may not be working on every app that the company publishes. he has a busy contracting business, and he's not sure what his availability is going to be. so it seems like we'll have to divide the profits on a per-app basis. we'll keep track of our hours on each app, and divide the profits per app based on how much work we each did on the app. however, the work isn't just on apps. i'll be doing a lot of work on the website, and tech support, and all the little things a business needs to keeping running. he'll just be going graphics, and that's it. so it's getting a bit complicated. how do i place a value on the work i'll be doing that isn't app related? it's not clear how many hours i'll need to spend on those non-app developing tasks. do we track our hours on every aspect of the business, and pay ourselves an hourly wage? what if there's excess profit leftover? or what if there's not enough to pay ourselves the wages we're due?
on top of all this, how do we determine who owns what percentage of the company? it's not clear how much my partner will be participating in the long term. if he gets busy, or takes a full time job, it may end up being just me, and i might have to find another partner, or hire an employee. any advice would be appreciated!