A colleague of a friend is creating a startup. This person has absolutely no knowledge of the product (Mobile software) he wishes to sell but has a good network of business contacts. He relies completely on me on everything from creating prototypes to booting his computer to marketing with customers to train his developers (who are housewives) working part time. Over time he wishes to gain business and create permanent jobs. I gave him two prototypes built on my own time and infrastructure and gained him space to talk to a customer. He now wishes me to release the source code of these prototypes for his developers to reverse engineer and understand. He also wishes me to work for "Sweat Equity" which will be diluted as he gains more engineers also on sweat equity. In effect he wants me to be a partner but at present is unable to clarify how much of the company I will own or how I will be actually compensated for work which may or may not result in business. If I ask money he says I will give you once we get some revenue from customers. I wish your advice on what I should look for when accepting such "sweat equity" positions. I am currently employed and this could be an opportunity to start something big but then time is also money and I may not see any for a long time if ever and what happens if he requests my intellectual property? Or asks me to share the travel cost to a customer? or spend two weeks creating prototypes or training his developers?