mikeh1010

Basically here's the situation: I met this guy randomly at the bank, we discussed some business ideas we were each pursuing. He has an idea which I think is great, but requires a real web app - right now he has a website built with GoDaddy's website builder tools. That's about as far as he's gotten with the idea. No users, no working product yet.

I had a meeting with him where I told him that I had a ton of ideas for the business and I think I could build him the real web app he needs. I also found out more about how far he's gotten with the idea. He has 3 cofounders besides himself: 1 guy is in school for computer stuff, but not really ready for prime time yet. The other three (including the CEO who I talked to) are all undergrad business major types who work as tellers at a bank.

So HN, what is the smart AND ethical play here? I have the ability to execute this idea entirely by myself. These guys have zero ability to execute - no one on their team has any experience with web development, entrepreneurship, user acquisition, or anything.

I obviously don't want to just steal someone's idea, but I also don't want to split a company 5 ways when I'm the only one who is bringing any execution. What is a fair way to handle this? Even if the CEO drops the others and we split 50/50, I still feel like I'm bringing way more value than he is. I understand he could be valuable in non-tech ways, but I have no way to verify that until I see him in action. How can I structure a deal so that we both get what we really deserve out of it?

I know consulting a lawyer to set up a fair contract is key, and I plan to. Just wanted to hear if anyone else out there had any similar experiences and get some general feedback on ethics from a community of people who probably often hear business ideas they could execute better than the inventors.