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I'm fairly sure that whichever came first does not have to be co-. Originally Johan paid for the entire server and was the Owner but then Entrok helped pay to resubscribe and become the Co-Owner. It would make more sense but I don't think it's technically required.
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Does he officially partly own the content or is it just a namesake. If thats the case, call him an investor. If he is a part owner, they both become part owners.