Conversations change. Someone who began by asking about a role in a possible company may find that a distributor role is a better fit, and the other way round. It should be easy, and nobody should have to start again.
You would keep the same private room, the same login and the same history of what has been shared. Moving track would not open a new file. The shelves are how we intend to arrange the room; today each document is shared with named people.
The room would have a shelf for material both tracks use, a shelf for participants and a shelf for distributors. Changing track would change which shelves you see.
What has been shared with you would stay visible. Changing track grants no exclusivity, appoints nobody, and commits neither side.
A party who could hold both roles is treated openly: the two are different, they are kept separate in any terms, and any conflict is disclosed and recorded. Neither role would give the other any advantage.