How to Split Ownership?

blamphierblamphier Posts: 1subscriber
Hey all,I`m a college student looking to start an online company,
both for a school business plan competition and hopefully for full-time
after graduation. I can run the business but can`t write a line of
code, and am meeting with potential partners to handle initial codingI
can`t pay them (they are also college kids) and most know enough about
the web to take partial ownership in case this thing takes off. I`m
wondering what a typical amount of ownership I should be willing to
offer at this stage.Obviously as little as possible but I can`t do anything without the site running, so I need to know what a good offering is20% to a partner, 30% to an engineering team?Any and ALL tips help thanks!!

Comments

  • MNGrillGuyMNGrillGuy Posts: 2subscriber
    You`re in a tough situation.  I`d start by workload.  Split the ownership based on amount of hours a person will likely contribute to the venture in the next year.  Set goals and accountability.  Once money gets involved you will be able to split it better but for now that should get you started.
  • yourNAMEinDotComyourNAMEinDotCom Posts: 17subscriber
    Whatever you do, make sure the domain name is in YOUR name. You can buy it at http://www.internationalinternetauthority.com/ or any other registrar you feel comfortable with.If you resign yourself to not knowing and let them buy the domain name you could find down the road that you`re not actually the one deciding who gets what percentage of what, if you know what I mean.As for the rest of your question, take the advice of the previous posts. There is actually - if my memory serves me right - a podcast on this topic already. I`m 90% sure in one of the SUN podcasts, this is mentioned. Do a search.
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