Hello,
I am a veteran tech person (backend developer) and was approached by 3 business people who know me from way back regarding an idea they had. They are looking for someone to help them implement it or at least a prototype with which they could ask for funds. The idea is viable and has something to it, and those people are connected in the right places to push this forward if they like. So unlike most offers gotten before this seems viable. My question is, if I decide to put the time and join them, how can I protect myself/minimize future risks (such as dilution), being a minority in this group [1/4 founder]? Are there any online sources or books how to handle such scenarios?
Notes:
* I am aware that the optimal way to go would be to find founders you trust, unfortunately some times for various reasons you need to settle for less.
* I assume there is no full proof solution, I just want to know what I can best.
* I assume most of those rules would apply for non-tech founders too, but what I am interested in knowing about (if such exists), are unique clauses that can protect tech founders in particular
Notes:
* I am aware that the optimal way to go would be to find founders you trust, unfortunately some times for various reasons you need to settle for less.
* I assume there is no full proof solution, I just want to know what I can best.
* I assume most of those rules would apply for non-tech founders too, but what I am interested in knowing about (if such exists), are unique clauses that can protect tech founders in particular
Thank you and hope this will help others too