Thanks for taking time to read my post and sorry for the loaded questions -- please read patiently to help me. Here is the scenario:
Founder has the startup idea vetted 3.5 years ago -- but never funded. Recently the stalled venture is showing signs for attracting investors. There are two working partners who entered the scene just now. The venture has three phases. Phase 1 r&d. Phase 2 development and phase 3 tracking.
Is it appropriate to call new working partners co-founders or founders? The venture has not been funded or started yet. The idea is the founders', the new working partners will get started only if funded. One of them is a peer techie, will be involved FULL TIME from phase 1 the other is marketing/sales development and will not get started until the end or mid of phase 2 and will work part-time 25% time investment. How much equity/ options to these 2 and the founder and the investor?
Investor equity: for an initial 500K investment, for the venture initial valuation of say X amount -- I do not know how much that is -- what % of equity to the investor?
What are the questions to ask a potential investor (there is not much choice for mission match etc. so I take the first investor in), when should I ask for a term sheet how do things roll from there? Can I trust an investor who wants me to work for their firm in some capacity without giving anything in writing or a term sheet?