Is being offered 23% of a company an insult as a partner in a start up? I am responsible for building and designing the entire web app, coding the Frontend, backend, and digitizing all requirements for our proof of concept. My partner found me on LinkedIn. Its his idea, he will be running business functions, marketing, client onboarding, and he has a few real clients to do a trial run with. We’ve been working together for two months in a trial period and now we want to write up contract. How do I value myself?! ……This is my first start up !
Any outside financing, even if pre-seed from friends and family? What about vesting schedules (for both you and him)? Get yourself an experienced VC lawyer (not just any lawyer). Yeah it will cost you, but a few thousand is totally worth it if you consider how much time and effort you’ll be putting into it. And experienced VC lawyer will have gone through this dozens of times and can anticipate problems that you (and your co-founder) likely cannot.
Appreciate the thought, no seed funding or schedule at this time, I’ll definitely consider a vc lawyer