How bad is the decision to work as a co-founder without legal contracts?
anamax: > My worst case : Idea goes live. Initial projection of time dragged. But the organizer plays dishonesty and kicks me / other coders out, taking the whole share.More likely - organizer claims that your contribution is worth significantly less than you think that it is.  (Perhaps he'll say something along the lines of "it was my great idea and organization while anyone could have done what you did".)  You get a pittance and walk away, mad.  On the way out, you'll sign over what you did.Point out that you own everything that you create until there's a formal agreement otherwise and that that will make it impossible to get investment.  The organizer will probably then decide that such a formal agreement is necessary.  At that point, you point out that said formal agreement needs to include "consideration" for you.  (It actually doesn't, but ....)