A well thoughtout StackExchange post by its very founder, a guy named Joel, which answers another user's question about the proper ways to approach the division of individual stakes in a newly formed venture.
Surely there are countless other approaches, yet this looks like a reasonable set of logic to guide any team through their first attempt at self-employment.
"Forming a new software startup, how do I allocate ownership fairly? - OnStartups - Stack Exchange"
http://answers.onstartups.com/questions/6949/forming-a-new-software-startup-how-do-i-allocate-ownership-fairly/23326#23326