Also, I'm assuming they have a real closely held corporation, registered with the state, and can actually issue equity to you? If not and it's just some kind of "I promise you have 5% now," then just say no.
I'm currently creating a very advanced website for a group of people who are a startup business. From what I can tell, they have very little money. They have paid me to date for my services, but they want me to create some additional advanced features and algorithms for their site and they are offering me equity in exchange for my services. They have not expanded on how much equity, but having never been in this situation I was hoping to get some advice before I proceed- has anyone here been in similar situations? What's the best way to proceed? So far I told them to send me a proposal of work and that I would consider it but have not committed to anything..
