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What is an equity split?

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soulfulsistah21

Junior Member
Massachusetts

I'm a writer/artist working on an unpublished cartoon series and I would like to work with an illustrator. I don't have any money to pay anyone upfront so I was advised to work out an equity split contract but I am unsure of what that means. My art is copyrighted so if I did the equity split would I have to put the illustrator's name on my copyrighted works too? Is an equity split me paying them monthly or does it mean they would get half the earnings IF my cartoon ever made money? So is the percentage 50% then, or something else? What if the cartoon never makes money? Would I have to make up for this and compensate them in some way for their work?
 
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