Been hard at work for the last year as co-founder of a start-up. Looks like we may be getting our first client. 1) Should I be worried that there is no operating agreement in place. The CEO keeps telling me he is working on it. 2) the CEO has been fronting his money to pay the majority of the business costs: rent, Internet, etc. I pay my own expenses: training, parking, etc. CEO has been talking about needing to open up a “company” checking account if we get this new client. I know his name will be on the account, but should mine also since I’m the other partner? We also have a verbal agreement of 60/40 ownership; I have the 40.
This is my first startup, any advice would be appreciated. Thanks in advance.