[jdh]

Just FYI us VCs aren't sitting around just hoping some rube will come by who is not incorporated so we know we can take advantage of him in a negotiation.

Our model isn't leveraged around finding naive people to take advantage of. No price is cheap enough for a bad team or deal...

[tisme]

Not all VCs are equal, and I apologise for lumping in the good with the bad. But there are plenty of examples of venture capitalists (and angels too) taking advantage of inexperienced entrepreneurs. And in that case it helps a lot if you get to write the contract.