I have the domain knowledge but no technical background to implement a internet start-up/computer application idea. I have a tech cofounder in mind. What risks are involved? Do I need to set up things legally right from the beginning? What kind of agreements should i address with a partner? ie 5%, 10%, 50% ownership. How do i protect the idea? Any resources out there? thanks alot

I think you should get things squared away legally with your founders right out of the gate. Talk through what happens if things go well, and if things don’t. What happens if someone wants to leave? What happens if you want to get rid of them. What happens to their equity. Consider reverse vesting structures for equity grants. How much you have to give depends on how much you value the person. I’ve seen everything from 5% through 50% for a tech cofounder. There are only 2 way sto protect the idea that I know of: patents which may be difficult for an internet startup; and just getting out there and getting a good headstart. If you are in Toronto, check out MaRs, in Waterloo check out Communitech.

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