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Founder split

Questions to ask a lawyer about splitting ownership between founders

Dealing with ownership between founders? Describe it in your own words, and Tellbrief turns your answers into a short brief with the questions worth asking and the records to have ready, so your first call with a lawyer starts further ahead.

For example: Founders who never settled ownership in writing, with some accounts in one founder’s name. A brief for this founder suggests the lists below.

Questions worth asking

  1. What should the founders put in writing about who owns what, and what happens if one leaves?If founder stock vests over time, an 83(b) tax election must be made within 30 days after the stock is received.1
  2. What should move from a founder’s name into the company’s name, and how?

Records to have ready

  • Your cap table: who owns what share of the companyA question between founders starts from who owns what today.
  • Your formation documents and founder stock agreementsThey show what the founders agreed when the company was set up.
  • Any SAFEs, notes, options or equity promised to anyoneEarlier promises affect what you can offer now.
  • Records of who owns your domain and key accountsSome accounts or assets may not be in the company’s name.

Your brief builds its own lists from your answers.

Build your own brief

About 30 questions, most of them one tap. No account and no card during early access. Tellbrief isn’t a law firm and doesn’t give legal advice.

Start your brief

Questions founders ask

What questions should I ask a lawyer about ownership between founders?

For the founder in this example, the brief suggests: What should the founders put in writing about who owns what, and what happens if one leaves? What should move from a founder’s name into the company’s name, and how? Your own brief builds its list from your answers.

What should I have ready before the first call?

For this example: Your cap table: who owns what share of the company; Your formation documents and founder stock agreements; Any SAFEs, notes, options or equity promised to anyone; Records of who owns your domain and key accounts. Your own brief lists what fits your answers.

Is this legal advice?

No. Tellbrief organizes your information so the first conversation with your lawyer starts further ahead. It isn’t a law firm, and using it doesn’t make anyone your lawyer. Legal advice comes from a licensed lawyer, once they agree to take on your matter.

What does it cost?

Your brief is free during early access, with no card and no account. If you’d like Jordan to take on the work, he reads your answers first, then talks through the scope and his fee with you before any work starts. Tellbrief takes no share of it.

How long does it take?

About 30 questions once the names are cleared, and most take one tap. Plan on 10 to 15 minutes.

Other situations

  1. 26 U.S.C. § 83(b)(2) (opens in a new tab).