7 months ago I thought of a great idea for a website. I enrolled in an intro to entrepreneur class at school and I created a business plan with financial statements. I have been working with a developer to make a 'wire frame mock-up' of the site design in line with my vision. The project will be done by may. I also have a personal loan for ~5k.
My next challenge is finding someone with a programming background to co-found this website with me.
How do I play this. How much info do I give him, and when. Do I interview them before I tell them anything about the opportunity? Basically, how much information do I need to divulge to see if there is a match in both skills, personality, goals, etc.
He wont want to co-found an idea he knows little about (do I show him my business plan, my financials, my mockup, etc?) and I dont want to tell the person until I find the right person to tell (my co-founder).
So my question is; What agreement/contractss are needed, and when are they to be made? Starting from the initial contact to a potential co-founder. When does he sign an NDA? Before or after he qualify his skills.
I plan on incorporating (WA) with my co-founder, with a 51/49 split. What if he is codes for 4 weeks and quits or drops out? What happens to his code, and the company, all the IP/cash I put it into, name, etc.