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Who has tips on entering co founder agreement, with ownership split?
by
gates
Who has tips on entering co founder agreement, with ownership split?
I'm not sure what exactly you are looking for, but if you are asking about legal docs, I recommend looking at your cities startup sites and finding some law firms that are supporting start ups. They often have low price legal doc preparation for start ups. The idea is that it starts a relationship that may lead to more work down the road. For example, we reached out to a law firm to write our contractor agreement for $299 rather than the standard $899 (or similar numbers).
Thanks for all the advice
Don't do it? :) All kidding aside, just have yourself covered, and make sure all partners are worth the equity. Ex. 10% to a partner for web development sounds great when you're only making $100,000 a year, but scale that up to $1 million, $10 million, $100 million. Is web development still worth 10%? Look into vesting. I'm not an expert on it, but basically it says partners can vest more ownership in the company over time. I've had several of partnerships go sour, so make sure it's worth it first. Good luck!
This will be a test of your ability to get on the same level and communicate. Be firm and kind. Manage expectations going into the meeting.
This comment was deleted 3 years ago