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> memorialize the agreement Absolutely, that's the primary reason. It also clears up unnecessary misunderstandings. (E.g. one party may assume preferred stock,
by gizmo 17y ago
> memorialize the agreement
Absolutely, that's the primary reason. It also clears up unnecessary misunderstandings. (E.g. one party may assume preferred stock, while the other founders will assume common stock.)
- hga 17y agoVery true ... it hadn't occurred to me since due to my family's business dealings I'd absorbed that by the time I was making agreements. Putting it down on paper forces a minimal level of clarity and detail, and gives all the parties concerned several chances to get it right, enumerate and specify details such as the above, etc.