[jonahbenton]

I would look at it like this, as 2 entities. There was an entity that developed this IP, this algorithm. You own 100% of that entity and the IP. If you go in with this guy, there is a new entity. You two need to do slicing pie with the new entity- arrogant smart people have a way of not putting in the work, so you need a mechanism that will accumulate equity by effort. Probably your hours are equally weighted in that accumulation. And then you need to value the contribution of the algorithm/IP to the new entity. There are ways of valuing that contribution. It could be valued as equity, or it could be a license (so there is an income agreement). If equity, maybe it is 50% of the new entity, maybe it is 25%, maybe it is 75%. It really depends on a rational valuation of that algorithm in the context of the competitive space. My honest opinion, I use parking apps, your particular innovation (no disrespect, it is an achievement, for sure) is not a game changer to me, so I would put it at 25%, but I don't know really how to structure the value of the space. But you should have an analytical opinion (not based on your hours you put in, based on how the algorithm changes the dynamics) about the importance of the algorithm to the proposition the new business has, relative to the work the two of you would do together, which should use an accumulation mechanism for allocation.