

Ask HN: Already incorporated, want to give part of company to cofounder. How? - andys627

DE C Corp. I own 100%. Want to give % to new cofounder.
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hugo31370
My first advice is, you should get a lawyer to do that (I'm not a lawyer).

If you're a C-corp, ideally you haven't issued all stocks you're authorized
to. Usually you're authorized to issue 10M stocks and you then limit the
number of shares outstanding. If that's the case (say you have less than 5
million shares), you can just make your co-founder sign a stock purchase
agreement on the # of shares you want to give her/him.

If that's not the case and you own all 10M shares, the company will have to
buy back shares and then transfer them to your co-founder (via stock purchase
agreement). The downside is that the company will have to pay for those shares
(usually we're talking about a few hundred dollars).

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anthony_franco
Who did you incorporate with? Usually you can ask them for these type of forms
(stock grants, offer letters, contractor agreements, etc).

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andys627
incorporate.com or something. I'll check it out thanks

