Wednesday, April 20, 2011

Forming a company

I've organized some of my thoughts/questions on what my first steps should be in forming a company, which seems like the first step we should take in order to formalize our work:

  • I need to find a lawyer. The goal is to have a functional, legitimate company by June.
    • What should I look for in a lawyer? 
      • I have read/heard that I should look for someone who is familiar with startups. 
      • I have also heard that I should try for someone who is interested in and/or familiar with games.
      • What do I need ready before forming an LLC?
    • How do I find a lawyer?
      • Who do I ask?
      • Where to I look?
  • I need to figure out the legal issues surrounding the IP from the original Octodad
    • We signed an agreement at the beginning of production. I'm not sure how binding the terms of that agreement are.
    • Kevin Zuhn currently holds all of the IP. If we don't form a company by July 1st the IP dissolves to individuals.
  • Need a good idea of how ownership/profit split will work
    • What % reinvested in the company?
    • What % owed to non-founder, original Octodad members?
      • How will this depend on the % of project time they stay on the project?
    • What % to founders?
    • What % to non-founder contract workers?
  • Need to establish bylaws and operational guidelines
    • Where can I find boilerplate stuff that I can use as a basis?



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