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Cake day: November 15th, 2023

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  • Is this your first startup? A lawyer may be worth the investment since they can help you game plan how equity is structured. This can materially impact any rights, responsibilities, and even eventual control of the company. Examples:
    -Are you going to leave unissued equity?
    -Will there be equity preferences for founders?
    -Antidilution clauses for investors?

    I would recommend an attorney who specializes in startups in your industry. They’ve usually seen most of the worst types of mistakes and can help you avoid them.

    BTW, Corporations have bylaws, LLCs have operating agreements. Those terms are not interchangeable since they refer to completely different legal entities.