7) Founders Equity Split: Depends on the Team, But Quickly and After the Awkward & Difficult Conversations. 10) Consideration for Founders Shares: Cash & IP. 11) Handling of “Lost Founders&# : Lock Down the IP. 3) Investors: Accredited Investors. 1) Entity Choice: Corporation or Corporation.

Investor Questionnaire. This is the norm for West Coast deals, but it’s often the case in dealing with East Coast investors (more commonly for VC financing rounds rather than angel seed rounds) that the lead investor wants its lawyers to draft the documents. Convertible Promissory Note(s). See discussion of amendments below.)