To begin with, I am a college student and I don't have much understanding of the law in US and of India, of which I am a citizen.
Now, I have been approached by X, who is going to start a company Y. The company Y is still in the registration process both in India and US.
I've been working for X as a freelancer for rates that X himself knows aren't "professional rates", because X says they'd want to deal with equities in future, which they won't be able to if I command professional rates.
Now, I've done some work and have received the said amount. I've a contract for the same. But I don't want to work on the same rates without the equity part being official.
Given that the company is to be registered in both US and India, how do I go about ensuring that I do indeed get equity in the start up Y?
What documents should my name be in for it to be official?