It is advisable that you formalise you business relationship into an agreement, be it partnership agreement (if you have not incorporated a company yet) or shareholder agreement if you have a company incorporated.
The % of equity each partner is given should be commensurate with the capital put in, be it sweat capital or cash capital. You can agree on an equity shareholding proportion now and then because you are working on it on a day-to-day basis you agree on a salary compensation.
I advise my clients to break down the situation into 4 catagories:
1 Control - Who and how will decisions be made. Both the long term and daily operational ones
2. Compensation - Who does the work, what is the value of it and how will they be compensated
3. Distribution of results - how will the profits (and losses) be distributed.
4 Ownership - How will the equity be divided based upon the above. Will there be "earned" equity and how will that occur.
If you would like to discuss your situation, feel free to contact me privately.