Doesn't that require he rely on the true owner of the business (the person whose name is on it) not cutting him out of it, completely legally? He can't start his own business, he can't be a partner in a business, he can't be an owner in a business... because then he'd be a principle and the company's merchant account application would be denied.
but he's not a company. and if he starts another one he can list somebody (or pretty much anybody) else as principal if I understand correctly:
http://answers.yahoo.com/question/index?qid=20070909074529AA...