When the company is not formed yet and is still an idea in an entrepreneur’s mind, looking for partners with various skill sets and experiences, what kind of legal risk or personal liability does one face acting in such a manner where they are looking for partners and talking to professionals?
How would you go about promising let’s say 5% equity in the company when it’s formed and bonuses on successful milestones without making yourself personally and financially liable in case the whole idea doesn’t work and we end up not forming the company and not pursuing the idea?
He could be like 14yo. Gotta learn what’s stupid at some point 🤷🏾♂️ People with no experience always want to retain 100% of their company with no money and do no work at first lol.
Almost every day there’s someone here asking if they should get an NDA to protect an idea and gets told no one wants their shitty idea. Especially not someone willing to put their money on the line. It only get annoying to me when they don’t want to take the advice because they think it’s the worlds greatest idea.