I was just offered a position as cofounder of a startup with someone who I have not known previously are there any legal steps to take?
I was just offered a position as cofounder of an already established startup. The revenue on it is minimal. This was the first I had met the founder. Are there any legal steps or other steps I should take?
Make sure the company is properly incorporated and has paperwork provided by a lawyer with a lot of startup experience
Make sure the founders have clearly-defined ownership, so you know exactly who owns what
Make sure there is no risk that anyone else will have a claim on the company (Facebook-style) -- most importantly that the founder is not working at some other company that might own the work he's created
Make sure all founders stock is subject to vesting
Make sure to chose the 83(b) election while the stock is still worthless
And on a personal basis:
You're getting married to this co-founder... make sure it's really someone you want to spend the next 4 years with, day and night. If this is not the kind of person who you would have fun with being stuck in tornado-destroyed St. Louis airport for 24 hours waiting for the next flight home, move on.