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Re:Ask HN: Incorporating a business and initial legal work: ... by andale on Monday June 09, 2014 @03:55PM (#7870145)
Thanks for the input. FWIW, we are looking to form a multimember LLC. I've read over several operating agreements and we're both on the same page as far as that goes, not sure if that might alter your feedback.
Re:Ask HN: Incorporating a business and initial legal work: ... by tptacek on Monday June 09, 2014 @04:17PM (#7870246)
Do talk to a lawyer before forming a multi-member LLC. If there's any chance that any subset of the members of that LLC will go on to develop something bigger, you need to work out vesting and control.
Re:Ask HN: Incorporating a business and initial legal work: ... by andale on Monday June 09, 2014 @05:08PM (#7870512)
Many thanks for the input. Right now the only members of the LLC are my cofounder and myself. We intend to keep it that way (and dole out shares to investors and employees down the road). As for vesting, he and I are on identical schedules.