I must emphasize one thing, whether you use our ideas or not.
GET EVERYTHING IN WRITING!!!
when money is involved people tend to forget what they said.... so please do your self a favor and draw up a small brief contract, it can even be like a small paragraph. Just state you terms, and that if they are not met, then you are free to leave. That way no one has amnesia later. If he is really your friend he will totally understand, that its for both of your protection.
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