This is a Digital Media Institute. We are considering offering a fair share and partnership/director position to an extremely high profile music industry legend. What in your opinion would be a fair allotment?
Fair Share is good but a partnership or even a director position is something you may want to think about based on the value add the legend will do to your business apart from lending his name.
However if your business is going to piggy back on his name & reputation and he is not offering any investment in cash , its a good idea to offer him anywhere between 10 to 15 % of the equity with clearly defined expectations from both sides.
I am making an assumption that you are going to be a high value startup.
You may go up to 8% of Equity for the industry legend. Generally celebrities don't have time to actively participate in a startup's day to day activities or management, however, they may add up a huge value by endorsing the startup/brand. Therefore, 8% is a fair share. In case the celebrity is also putting in money or is ready to share his/her network and actively participate in the management, then you may go for up to 15% Equity.
I will be happy to talk to you if you need my help. Feel free to setup a call through clarity.
Thanks for reading
CEO of StartupLanes