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]]> By: Anonymous https://startupsanonymous.com/question/replacing-previous-tech-co-founder/#comments/13196 Mon, 02 Jul 2018 21:47:21 +0000 https://startupsanonymous.com/?p=4354#comment-13196 If you do believe the product can be a success and you are sure that you can work with your friend full time for a long time without a falling out, you should joint the company. I would advise to put everything in writing, even as you are friends. I lost me oldest and closest friend simply because we did not specify our roles in the startup specificly and in writing and I know a couple of people that had the same problem.

If you will outright own 20% of the company and not only virtual shares, you should alter the partnership aggreement he had in place with the old co-founder.

You will be a partner in the company and not only a “simple” employee. As to what the contract should look like, spend the money on a lawyer to set up that contract. It’s worth it. Don’t jeopardize your friendship and your peace of mind because you were too shy to push for a written agreement.

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