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> And between you and your co-founders you would be ill-advised to begin building that astonishing core value and creating out-of-pocket expenses without some k
by kristopher 16y ago
> And between you and your co-founders you would be ill-advised to begin building that astonishing core value and creating out-of-pocket expenses without some kind of legal agreement in place of ownership and ownership %ages.
If you have grown to the point where co-founders are bickering about cap-tables, then hopefully at that point you have Good People and solid Core Value -- time to incorporate.
The problem with most 'entrepreneurs' is that they only have an idea (not even direction!) and they are already working on how they should incorporate and setup shop.
Business and money for that matter is only the transient result of core value -- something that we should all be focusing on delivering.
- nika 16y agoIn my experience, you're both right. You need the agreements so that the business doesn't get killed by bickering between co-founders, and you need to not spend a whole lot of time on "corporate matters" when you should be building the product. The advice you hear from "VCs" very often is that the first thing you should do is not just get incorporated, but get a lawyer, an accountant, etc. All of which is premature.