Apple Computer Co. Founding Contract Signed by Steve Jobs to be Auctioned by Sotheby’s [Steve Jobs, Steve Wozniak & Ron Wayne Contract Estimated to Fetch $150,000 in Sotheby's Auction; Could be Worth More]

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Apple is one of today’s best-valued company in terms of market capitalization. But it had meager beginnings, having been founded by three individuals in a partnership. The original founding contract — signed by Steve Jobs himself — is being auctioned off by Sotheby’s and is estimated to fetch more than $150,000.

Apple Computer Co. was founded on April 1, 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The original contract was actually just a simple three-page document stipulating the ownership terms, but it is, today, considered as a relevant historical document by Sotheby’s, which will auction off the document in its books and manuscripts sale this December 13.

Richard Austin, head of books and manuscripts at Sotheby’s, says the founding document is “a foundation document in terms of financial history, social history and technological history,” particularly given the relevance of Apple in today’s business and technology setting.

The contract was originally owned by Ron Wayne, who had a 10% share in Apple when it was first founded. Wayne then sold the original contract — which contained his, Jobs’ and Wozniak’s signatures — to a manuscript dealer in the mid-1990′s, which then sold the document to Sotheby’s. Wayne said that at that time, “everyone thought that Apple was pretty much finished.” This was before Steve Jobs rejoined the company after Apple acquired his workstation venture, NeXT.

Wayne was actually the person responsible for persuading Steve Wozniak — the engineering genuis who created the Apple I and Apple II — into joining the company in the mid 1970′s. But Wayne later on withdrew as a partner, seeing no potential in Apple. He got a payment of $800 plus $1,500 for withdrawing from the company, although his 10% stake would have made him a rich man if he held on longer. At Apple’s market capitalization today, Wayne’s 10% would have been valued at about $35 billion.

But as history would have it, not everyone is destined to have this fortune, although Wayne does not have regrets. Interviewed by Bloomberg in October, Wayne called his Apple co-founders “intellectual giants.” However, he felt dealing with them would be difficult. “If I’d stayed with them, I was going to wind up the richest man in the cemetery.”

Steve Jobs’ death on October 5, 2011, has accelerated the release of his official biography, and has resulted in worldwide media attention, which includes theatrical releases of his interviews, commendations from world and business leaders, and speculations as to Apple’s future as a company.

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