Recently I got a JV offer from one of my clients. I am a consultant from India and my client resides in Canada and has an INC with some online website to get orders and business. The offer is about building a new site for the client that according to him will fetch more business using his new idea. However the client does not want to invest on any kind of consulting fee to me now or later but promises to give % share from profit earned from the new website once its up and running. He is ready to invest money on servers, hosting, marketing, customer support etc. but doesnot want to give a fixed consulting fee. He wants to have a long term relationship. I am bit confused about how to approach this opportunity. Should i accept this JV? If I accept this JV will I become his partner in his business and therefore partner in everything good and bad the company does (like debts). What legalities I should take care about should I agree with the offer.
Any guidance in this matter from you all is much appreciated.