Another question: Let's say you've already spent considerable time (12-24 months, say) developing a product and then find somebody to partner with. What is the breakdown in company ownership? Certainly not 50/50 or even 60/40, I would think.
So when I was reading Book "The Perfect Store" by Adam Cohen, I found out that similar was the Situation for Ebay. John Stokes joined later than Pierre Omidyar, so they decided with different equity levels. I guess it was 28/72. Not sure..