There is nothing wrong with a 50/50 partnership if you are both bringing something valuable to the table and the company could not get off the ground without both of you.

One idea to consider that I have done; if one partner will be working 50 hours a week and all I brought to the deal is money I put in a management salary and we split profit after that. Basically this person gets a salary to run the company (nothing big) and we split profit after that.

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