New Website Business, what do I do?

Hi

I've had a website for a while now that has potential to be a business, it has the audience and could definitely make money, but it would need a lot of work.

I have a very clever friend who could do a low of work on it and basically work with me over time, which would be perfect.

Basically right now its not a business, I've copyrighted it but im not sure if I should set up a solo company or a partnership with him, or something else? I really don't know. It'd be good if I could own the company but he could get 35%-40% for helping develop and maintain it, how would I go about this?

Is this the right place to ask? Thanks

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