This kind of question is difficult for any of us to answer. First of all, this is a subject I have no experience in, so I can't comment on how "fair" your numbers are. I'll only offer general advice about negotiations.
You and your friend are about to form a business relationship. Therefor: really try to understand his opinion of fair. If both of you can not be happy, then forget it and move on. Does he really offer something worth 50% of your company? It seems to me that high-tech is a very competitive industry, if you have something good, typically, you will find investors.
Personally, I do not like rewarding people based on the number of VC dollars brought in. Reward him for actual work. Say that he will be paid X shares/hour, plus some start-up bonus. BTW - Rewarding people for sales, is a different story.
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This kind of question is difficult for any of us to answer. First of all, this is a subject I have no experience in, so I can't comment on how "fair" your numbers are. I'll only offer general advice about negotiations.
You and your friend are about to form a business relationship. Therefor: really try to understand his opinion of fair. If both of you can not be happy, then forget it and move on. Does he really offer something worth 50% of your company? It seems to me that high-tech is a very competitive industry, if you have something good, typically, you will find investors.
Personally, I do not like rewarding people based on the number of VC dollars brought in. Reward him for actual work. Say that he will be paid X shares/hour, plus some start-up bonus. BTW - Rewarding people for sales, is a different story.