It’s critical that founders determine key relationships before they get started — both with each other and with other consultants and advisors that may assist them — so it’s clear what everyone expects from each other and who gets what rights.
Apple’s chief executive gets a pay increase in 2012, including a bump in his base salary of $500,000.
Guest Post A reader asks: My co-founders and I are working on a cool new site, and we’ll be ready to launch in a few weeks. I’ve been reading a lot on the web about incorporation and other legal stuff. We have no money, so we’re going to do the legal ourselves. Assuming we might mess something up, are there any mistakes that can’t be fixed down the road? We know that once we get money in we can clean things up, but we’re worried about mistakes that just can’t be fixed. (And please don’t tell us to hire a lawyer.)
Guest Post (Editor’s note: Jeff Bussgang is a General Partner at Flybridge Capital Partners. This column originally appeared on his blog Seeing Both Sides.)