1. Titles are meaningless but expectation setting is crucial.
All of our YouSendIt business cards read "cofounder" until the fateful day a well-meaning angel investor asked “Who’s the CEO here?” We then did the title thing for fundraising optics, a mutually agreed upon, really bad idea.
What we should have agreed on were roles and expectations before the company was formed. Mehdi and I had that talk concerning PunchTab when we sat down for the very first time. Sort this out with everyone who is early at the company, otherwise you’ll waste a lot of time dancing around the issues.