Partnership and Profit sharing
I'm working on a project of management consultancy with my friend in Dubai. I'm going to invest almost 100% of the capital in the business. My friend, based in Dubai, is willing to become partner solely on the basis that he has a huge list of companies (about 600) that he's been serving during his previous employment which he's confident he will bring to our business (since his other company is closing), run the business and draw a monthly working allowance (salary) as well. Can he really become a partner in profit sharing? If so, what percentage of profit sharing should be? I'm based in the UK and I'll be looking after some of the tasks related to international affairs, like sorting out certification and accreditation with professional bodies in the UK etc.
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