In addition to the explicit agreement ("you own 30%"), each side has implicit terms that they believe the other side holds as well ("you keep working"). Unfort

In addition to the explicit agreement ("you own 30%"), each side has implicit terms that they believe the other side holds as well ("you keep working"). Unfortunately, these implicit expectations are often not shared between parties. It sounds like the author thought he was bringing his friend on as a late cofounder with all of the responsibilities that entails, whereas the friend thought it was payment for work he'd already done. The point of the contract is to make sure these implicit assumptions are made explicit, so both parties know where they stand before agreeing to a deal.