– Had my own LLC.
– Kind of founded a product through the LLC.
– Then met a cofounder who built-out a basic MVP of it.
– Any benefit in my LLC owning the product? Or, should I, as an individual, own my portion?
– Or, should I rush to incorporate the product as its own entity? Investor already asked if it was incorporated.
Your company should own all IP- this is how you build value and attract investment. When I entered into a partnership with a demo already built, I assigned the IP to the company and the resulting equity split reflected the value I brought via the tech.
Better to the company. Corporate vale will protect you personally if for some reason the product becomes part of a lawsuit.
OP here - so its better to own it as your company vs yourself. OK thanks this makes sense.