A close friend has decided to hire me to do some web developing work. In addition, if (when?) the project is successful, he is interested to have me onboard as a business partner overlooking the maintenance side of the program (ie the application / service that the project produces).
I am unsure what is a reasonable % of shares, but at this stage I'm thinking 50/50. On top of that, we'll both invoice the business for development time (from my part) and marketing & strategizing time (his part). He has already received a grant to make this business a success, which is the pot of money that will pay for my invoice.