Be very careful with these type of opportunities, especially if a lot of time has been wasted on stuff that adds very little value in terms of getting the company traction. If the company has customers already that's one thing. If the company has just some standard incorporation stuff, an idea, some failed prototypes, a bunch of sketches, etc, think long and hard before jumping on board because the other "original" founders will always hold this over your head and in one way or another you'd be second-class. A smaller percentage is one thing, but look out for any vesting or other provisions they try to bring up that may severely impact your leverage and position within the company.

My situation was not identical, but similar.

If you're not there from the beginning I would not expect an equal split. The longer the startup has been around, the less equity you can expect to get.

I like to look on the brightside of things. Being a skeptic can be harmful. If your gut is telling you that something isn't right, than be careful.

Trust your instincts.

An even split isn't even expected when you're there at day zero. Everything is a negotiation.

Whether or not an even split is still to be expected depends on a few factors, such as how long they're busy, what their outlay was and their compensation to date vs yours.

If they've been busy for a while and they've passed through one or more cusps would mean that your risks are reduced, on the other hand if this start up is two weeks old then I'd lean towards an even split, depending on what you bring and whether or not the others have 'an even split'.

If you're being approached then that would be based on reputation and talent, have a long hard look at the business case and if you believe in it then you can weigh your options.

Make sure if you have a s.o. that they're on board, start up life can be pretty stressful.

Best of luck.

I don't think an even split is expected (or even suggested -- consider that Sequoia takes around 30% only!), but a good rule of thumb is that, prefunding, someone who joins is a cofounder. It really changes your perspective when you're part of a team with a vision, maybe some duct-tape prototype, and the idea that, come hell or high water, they're in this together.

Bill Joy joined Sun after the founding. One of my partners joined us later, too, They are absolutely cofounders.

That said, the biggest red flag? Dishonesty. If you smell a whiff of it, I would advise serious caution.

If you're taking a regular wage from a company starting the first week of your employment, then whether there's funding or not, you're probably not a founder.

A wage from what? I said prefunding :-)

You're right though, I probably should have said 'prewage' :-p

We've never taken funding, but we have lots of employees. They're not all founders. =)

Thank you for the suggestion. Dishonesty is definitely a much bigger factor to be considered.

I was in a similar situation. I was "recruited" as a co-founder and CTO about a month after the idea was born and organized, but nothing built. I was given a smaller percent then the other founders, but adequate for what I brought to the table. As another commenter mentioned, an even split doesn't always happen even when everyone is there from day one. At this early stage its all about who brings what to the company...

Only rake less if you risk has been reduced

If all the have done is pretty std business startup crap a monkey with a phonebook and checkbook could do, that does not really count as risky work

And by no means am I advocating equal splits. You should b compensated based on what you bring, your risk and based on your opportunity cost