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I'm working on a personal project that I hope to be able to turn into a company onwards into the future. If I incorporated now I feel it would bring in a lot of legal issues I'm not capable of dealing with while working on developing. But I'd still like to arrange deals with designers/others to do work in exchange for future ownership or payment.

How is this done?

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I'm interested in this issue myself. A gentlemen's agreement of sorts? A signed letter stating the equity split? – tinny May 24 '11 at 3:06

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It depends on the laws of the country where you live, but a Memorandum of Understanding (MoU) could be a good solution. You should look for legal advise to write it properly, but it's certainly cheaper than setting up a company with all the documents, shareholding agreements and bylaws in place.

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