[aditya]

* Read the equity equation (http://www.paulgraham.com/equity.html), and founder's pie (http://www.andrew.cmu.edu/user/fd0n/35%20Founders%20Pie%20Ca...) for the equity question.

* Make sure you have standard founder vesting, 1 year cliff, 4 year vesting. Also, founder's get equity not options (ie. they don't have an option to buy stock in the company, they already have the stock, so if they leave before the vesting period is over, the company has to buy back the stock from them).

* Make sure you communicate well with your founder, a lot of startups die because of lack of communication between the founders.