Entering A Partnership...

[greenoak]

looks to me like your network of contacts is what you are bringing to the table....that sounds pretty major....
i would probably go for a small percent of the business...and a big sales comission to you....
hopefully the 2 of you can get real clear on this and get it down right.....and with a lawyer...
if someone could add a big side business for me , even with all my money at the start , i would think a half and half split of the profits would be a sweet deal.....i kind of like the big commission approach better....because of the diffficulty of pinpointing what profit means....
other questions...does the new business pay back his investment? and do you get paid before any profits come in?
the ideal will be if you 2 reach a win win agreement then can get it on paper right....your first thought of 60/40 sounds reasonable to me...
sounds like he has a lot of confidence in you...
i would try to see what he thought was fair ...