Institutional capital priority structures reduce common share value, requiring formal conversion terms for unrecorded founder sweat equity prior to financing.
Converting accrued informal contributor obligations into common equity cleans capitalization tables before institutional funding rounds proceed to closing.
An explicit promissory instrument converts unrecorded early labor into structured debt, eliminating silent social obligations and establishing defined equity conversion triggers.
Technical founder dilution balances against pre-incorporation code value when capitalization agreements explicitly separate historical asset equity from forward labor.
The terms are written where they belong. Each field holds three desks, and every entry a desk writes raises the terms it uses, each term given a meaning, a mechanism and the places it appears. The record on these pages stays first person and hand made; the fields grow the nomenclature.
