I asked because I have partnered in part-time with a "seeking co-founder" folk few years ago ... I think I took it because I wasn't experienced neither.
It's not great. But turns out okay. It did become a passive income. (I know it's very rare to happen.)
- Define the % in different ranges. When the sales is less than X, you got them all.
- The company may stop their effort on this product.
- You may disagree with the company. Maybe you should get a better % for yourself, if you want to take control.
- You'd better to get an inital pay.
It's, basically, co-found a project.
You need value your self's work, the company's work, and the potetioal of this thing, etc.
I've finished something before. It pays back somehow.
But now I barely working on anything. I admit I don't like any work at all. Working for Google or SpaceX? No.
I think we want to finish something because we are not satisfied with our current life. If you feel your current status is okay, it's not easy to get motived to put yourself into some extra work.
It's not great. But turns out okay. It did become a passive income. (I know it's very rare to happen.)