David sends me this link to Stever Robbins site Venture Coach that is full of resources fro aspiring entrepreneurs. One of the best piece is Q&A for a reasonable equity distribution:

"Dividing equity among founders

Founders receive equity for what they bring to the table. How much of the company they own as a result of their contribution is purely up to the group to decide. There are several factors which need to be considered, however.

Timing, size and duration of contribution. The earlier, bigger, or longer the contribution to the company, the more equity a founder should receive.

Power. Equity conveys voting power and control over the business. Generally, founders who intend to stay with the business long-term should retain the most control. I have heard it recommended that one individual own at least a 51% of the company, to provide consistent decision making when resolution is needed. Equal partners, while great in theory, can destroy a company when the partners don't agree and have no way to resolve fundamental disagreements.

Money. Early money is a contribution for equity. Money has the side-effect of valuing the company. If you give 10% of the company for someone contributing $50,000, it implies a company value of $500,000. If you try to raise money immediately thereafter, that valuation could hurt your negotiating ability. But if substantial infrastructure has been built in the meantime, if customers have been acquired, or if more of a team has been built, then a higher angel/VC valuation is justified.

Kind of contribution. A founder may contribute in many ways. Some bring patents or product ideas. Some bring business expertise and ongoing work to build the business. Some bring capital. Some bring connections. Some may bring big names or reputations which convey credibility with VCs and/or clients. One big name that provides instant credibility may, in fact, be worth more to the company than a founder who actually puts in the work to build the business. Make sure to understand what each founder's contribution is, and value it appropriately.

We have 5 founders, what do we do?

Negotiate, big-time. Too many founders can be a big problem. As the company reaches for outside funding, you make many decisions about equity, contribution, and dilution. The more equity-holders, the more negotiation has to enter into each of these decision.

Having several founders makes it hard to keep everyone adequately compensated. By the time of harvest (IPO or acquisition), the founding group can expect to own about 20-30% of the company. With one founder, that can mean riches. With several founders, that may mean splitting the pie into so many pieces that no one is happy with the value of their piece."

No rocket science on this site but pretty good introduction into the whole topic.

Go read it all.