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it doesn't help that he keeps calling him a cofounder, when he says the guy made it clear he wanted to be a consultant + board member. If your cofounder is char
by rgbrenner 14y ago
it doesn't help that he keeps calling him a cofounder, when he says the guy made it clear he wanted to be a consultant + board member. If your cofounder is charging you by the hour, he's not a cofounder.
- alexkus 14y agoIt sounds like he wanted to collect his remuneration by invoicing as a contractor rather than being made an employee. It can be quite 'tax efficient' to do this if you don't need the cash straight away. (In the UK at least) being a director is quite separate from being an employee. I'm a director of two companies but employed by neither.
- rgbrenner 14y agoIt's the same way here in the US. Board members aren't employees.. the company isn't even required to compensate them for serving on the board.