| Some quick notes: - it doesn't matter how much time you spent on it, look forward - incorporate first, very cheap - you will have to set up a vesting schedule for yourself - you can use a calculator like this to inform you of the roles you'll have in the future https://foundrs.com/ (number doesn't matter, but look at the questions) - you will have to set up a vesting schedule for him - if you can acquire the hardware IP for the company, just do that (you will have to raise to do this - don't spend own money - but it will be hard without the IP in the first place, so maybe precommit to price) - I have no faith in part-time founders. Among my network of people running venture-funded startups, 100% worked full-time on it from incorporation. People worked part-time, but you were either in at incorporation or not. - in practice, what you have to give away in equity is replacement-cost - in practice, you currently have a company worth 0 and every person you bring on should change the EV up. - you can hire this person as an employee and then provide equity commensurate and then issue more for when they come on full time Sorry, not entirely useful but hope what's there helps. |