I have a friend who already owns a registered Private Limited company whose assets are NOT zero (they are still making some money with existing business). Now, we are working on a new business idea where we plan to split our shares 50-50.
Ideally, I could have joined his company as a Director so that we both own equal stakes in the new product we are building. However, since the company is already making money (for which I have not contributed anything), we are looking for a way for me to join the company and only take 50% stake in the new product we are building.
Any idea how this should be done? I am completely clueless on where to go from here.