also, if you're working for no pay, then you need to consider the value of your hours as a cash equivalent investment. if you're bringing $50,000 of services to the table, and not getting paid for it, you're creeping toward a 50/50 split, maybe even a 60/40 split. what is he bringing to the table- the idea? the idea isn't worth much. ideas are free. are you going to work 20 hours a week while he waits for you to work, or are you both working 20 hours a week unpaid?
if he's paying you a salary, it's totally different. but the honest question you both should ask is, without each of you specifically, will this idea sit around for another year as just an idea?
if he's paying you a salary, it's totally different. but the honest question you both should ask is, without each of you specifically, will this idea sit around for another year as just an idea?