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I don't think he had to buy in, in that sense.  I bet before any stock is sold, a certain percentage of the issued stock is his without paying a penny or at preferential rates, in the stock ownership sense.  I don't really know though.  That's not really my field of expertise.  It's always good to know what you don't know, especially as a lawyer.  I can always research, but you have to know what you don't know to want to do that.  The last thing I ever want is anyone coming back 3-5 years down the road and saying "NC Yankee said this was okay" ... and then in blows up in our face because I told them we are fine. So, if something is not clear, it's good to identify that it's not clear to you and then make it clear.