A friend and I are submitting a YC application and are starting to discuss things like equity, governance and so on.<p>What is the minimum we need to figure out before applying?<p>If accepted, we'd like to get as much input as possible about those decisions from the mentors at YC.. but we don't want to get dismissed because our corporate structure is half-baked.<p>We're not hopeless to the point that we can't figure out things like founder equity, but we're interested about things like alternate advisory boards, and don't want to make a misstep.<p>As a bonus question, it's unclear if our startup would be best positioned as a for or non-profit company. Is this a decision we could delay until after acceptance?
Corporate structure can be figured out later, but if there are 2 of you, agreeing on a 50/50 split is your best bet...<p>Deciding if you are for or non-profit can be decided later (add that to the application that you are deciding), but choosing non-profit might help your cause.