re: New Business Startup Question

I would advise you to try and get a loan first. You can get the expert advice/best practices for less than half of your companies value.

If you end up going the investor route then consider structuring a way to buy them out sometime in the future at a predetermined rate ie. some multiple of earnings.

Look at it this way, you don't want to be a few years down the road and for every hour you work this person is getting the same amount as you with no end in sight.

The investor may be necessary if you can't get a loan on your own, but I think the terms are somewhat in their favor.