Now I/we goofed and didn't form the company right off the bat, and didn't cement/put into writing who would own what in the case that this idea had legs and we ended up forming a company. This is obviously a problem now, as we are nearly ready to incorporate and sell our product, but my partner is demanding she get ~50% of the equity, and will not quit her fulltime job to help sell or develop our product until we are able to pay her a nearly triple digit salary. I, on the other hand, have continued to pay for lawyer fees, costs of computers, software, and have not taken on another job so that we could be in position to sell our product. Essentially, I've taken on all the risk and will continue to do so b/c i believe in the product and idea, but am balking at the idea of having a 50/50 partnership with someone who wont take on (nearly) any risk.
Obviously mistakes were made and lessons were learned, but I am trying to consider what to do next. Do people regularly walk away from situations like this? Are there intelligent ways of managing equity and payments in a vesting schedule that is commensurate with the amount of risk/time that partners put it?
Thank you for your time, and I really enjoy all of the great conversations had here!
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