Starting a new business with former colleagues, advice needed

Posted by Sparafusile on Stack Overflow See other posts from Stack Overflow or by Sparafusile
Published on 2010-05-10T14:31:39Z Indexed on 2010/05/10 14:34 UTC
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I was recently contacted by a former boss of mine who is thinking of starting a new business. The business will be online only it will by my job to design, build, and maintain the software going into it. I will also have to maintain the server it's running on, being the only technical person on the team.

I will be one of four members of the business, the other three being the actual business know-hows and salesmen. The other three are shouldering the cost of getting the business going (incorporation, attorney fees, etc) and we will be splitting the cost of the server. I have no business knowledge at all, and don't want any part of it, I am only interested in the technical aspects.

Now that we are finalizing our plans, determining roles, and getting ready to start actual work, we have come to the point where we have to determine what percentage stake each of us has. Since I have never done anything like this before, or met anyone that has, I don't know what I should expect. Can anyone give me some pointers on what to ask for in this deal?

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