so me and a couple of friends started this company. nothing is official yet but we have a verbal agreement for 58% me 10% for our CTO,2% advisor and 30% for my CFO. but he hasn’t put in any money yet unlike me he didn’t come up with anything besides stealing an idea from Upwork that we both saw. and has done maybe three things. for what he’s done he shouldn’t have nearly that much equity. I still want to keep him as part of the company and were pretty good friends but he should have an amount closer to his actual contribution
LLC stands for Limited Liability Company, a type of business structure that
Since nothing is yet inked down in black and white, then everything is still up for negotiation. In a startup's very early days, there are so many moving parts and everything is constantly changing, fluid and dynamic, so it's quite normal that each team member's contribution varies greatly from one to another. That's also the main reason why co-founders should be chosen carefully and diligently. My advice is don't wait to have that hard conversation early on. Put everything on the table and have real talks about each other's expectations, because the odds are everyone views it very differently. So it's best to have that alignment ASAP. Once that's done and everyone is ready for a formal co-founders agreement, don't forget to put in a vesting period as well.