Title: Describe the process of establishing the founding team.
Course: Entrepreneurship, Advanced (12053-II) > Section: Understanding Business Management Concepts

Description should include

- formation of teams
- operating agreement
- equity distribution

Process/Skill Questions:

- What are the benefits of documenting agreements between business partners?
- What specific challenges are likely in a venture started with friends or family?
- Why have a founding team? Who makes up a founding team?
- What are the advantages and disadvantages of having family or friends as members of a founding team?
- When should the founding team be listed or created in reference to the origination of the company?

Teacher Resources:

- Slicing Pie (a startup equity calculator)