Oh, by the way, do you have a business plan? One with dates, budgets, revenue targets? If so, pull numbers out of that, do a discounted cash-flow analysis and a big chunk of that is your development budget. It's either doable or not.
If you have no documentation, no business plan, then you have nothing, just a dream morphing into a nightmare.
I haven't started on a business plan but I would like to make one. Do you have any resources you suggest to write one?
The idea is kick-ass (to use your phrase) and the website has a lot of potential added-value available to the consumer.
What benefit are you suggesting there is to promote my development team so I can hire others? It took me a while to get them settled and comfortable to do the job! I don't see where you're going.
edit: after making my way through it, this jumped out: "Right now, the understanding is that we will discuss payment when the website is complete."
This seems like a good way to get into a three-way fight and legal troubles.
I also suggested we have a weekly phone chat to keep it more personal, but it hasn't happened as much as I have like it to, so I'm going to change it starting now.
In terms of legal issues, I'm going to talk to my lawyer and ask him what he suggests. Yes fights are inevitably gong to happen.
No, I have no relationship with 5pm.