Lets say the initial founding team is a husband and wife team. The husband is working full-time on the startup. The wife on the other hand is working part-time on the startup while holding a paying full-time job with another employer. The plan is that the wife will quit the startup and continue her full-time employment with her other employer once the startup gets enough funding to hire full time employees.
In this context, does it make sense to split/share the equity between them? Since any vested equity would be considered community property (in california), would it be better for the full-time contributor (husband in this instance) to retain 100% of equity instead of sharing it?
If the husband were to retain 100% of equity, can he present his wife as a founder when raising initial funding from investors?