Both USCIS and CBP oftentimes will reject TN applications by founders, owners, and executives. This isn;t necessarily justified legally but it has become common practice.
Piggybacking on this, if they are employed as an engineer and not explicitly as a founder, can they still be issued a significant (>30%, <50%) nonmajority equity share in a company?
USCIS and CBP will deny TN applications based on significant ownership alone even if the employee is truly working as an engineer and owns less than 50%.