No. Don't do it. He is asking for money - which shortens your runway AND a significant chunk of equity. In other words, he is extracting money from the business

No. Don't do it. He is asking for money - which shortens your runway AND a significant chunk of equity. In other words, he is extracting money from the business and asking for equity for the privilege of doing so. The items you listed are not worth having a lawyer at all. Look on places like docstoc for standard boilerplate agreements that will work just fine. Look at wordpress.com's TOS https://en.wordpress.com/tos/ https://en.wordpress.com/tos/ which they have made available under CC license. If you really feel like you need a lawyer to draft a document or two. Pay for it with cash and get it free and clear. Ask yourself this: Which is more valuable, a lawyer which will not build the business or a sales person or a marketing person or.. or a developer. A lawyer is the least valuable profession to bring on board. An accountant would be better. But a lawyer for standard legal agreements, examples of which are freely available? No. But if you feel inclined to pass out money foolishly let me know; I could use some.