Source: VentureBeat, Oct 2011
2. Incorporate in Delaware and qualify the company to do business in the state in which its principal office is located (see #2 here).
4. Button-down IP ownership and assignment issues (see post here).
5. Split the equity based on prior contributions and expectations going forward, not necessarily equally (see post here).
6. If you hire any employees, make sure you don’t misclassify them as an independent contractor or fail to pay them at least the minimum wage (see post here).
8. Put proper privacy policies in place and make sure you adhere to them (see post here).
9. Don’t issue stock options unless a proper option plan is in place and a valuation has been done in compliance with Section 409A of the Internal Revenue Code (see post here).