This note presents the main legal and tax issues, the founders need to consider how they view the separation of capital and ownership structure. Specific questions include: why the founders should not delay splitting capital, and whether they are associated with a lawyer or an accountant, when they do, the importance of intellectual property (IP) for the separation of capital and the need to do so in accordance with section 351 of the Tax Code;. and the need for timely and effective section 83 (b) election, if the founders take vesting as part of equity split "Hide
by Noam Wasserman, Lauren Barley 15 pages. Publication Date: 04 February 2009. Prod. #: 809110-PDF-ENG