Peanut
Re:Steve Jobs in a Box
on Monday June 18, 2007 @05:55PM (#29000)
Heh, that's the first thing I thought of too.
Good read, thanks nickb.
Re:What is the valuation of my company?
on Monday June 18, 2007 @05:34PM (#28996)
We had a little chart that weighted the monetary contribution to 25% with sweat being worth 75%.
(Did a quick calculation, not sure if it's right... does this mean we're worth $400k??)
The reason why I'm asking is because I'm trying to convince the others that vesting is INDEED necessary since I'm worried that someone could just pull out and we'd lose all our startup funds in order to buy the stock back.
Our lawyers are apparently too busy to answer these questions because I've asked them and they haven't been any help at all. PG and others, if you can point me in the right direction that'd be great.
Re:What is the valuation of my company?
on Monday June 18, 2007 @04:16PM (#28976)
Say I've put in $50,000 to the company as the founder and I own half of it (I hold 50% of the issued shares). The two other founders have 25% ownership each, all sweat equity since I'm the only one putting up cash.
What happens if one of them decides to leave? What is our stock valued at and how much would it cost to buy it back from them?
Re:How necessary is it to have a lawyer incorporate you?
on Thursday June 14, 2007 @10:38PM (#28249)
glad i could help =)
Re:How necessary is it to have a lawyer incorporate you?
on Thursday June 14, 2007 @02:36PM (#28159)
that sounds like an absolutely TERRIBLE idea.
dealing with competent lawyers is bad enough, do not subject yourself to what will amount to a miserable experiment in futility just because he's the only lawyer you know.
if you need money (first off ask yourself what you actually need money for), get someone with money who will let you do your thing
to set up the C-crop, you SHOULD use a lawyer. ask friends or friend's of friends for recommendations. get a lawyer who will charge a flat fee, ours is only charging us $750 to issue the stock/create the bylaws/etc. use a bigname incorporation service to actually incorporate you in delaware if you have not yet done so (we used www.ctadvantage.com, cost us like $900 but only because we were stupid and had started off as an LLC and then decided to switch to C-corp).
the mental-illness dude does not sound like he can help you with either money or legal matters and will be more trouble than he's worth. STAY AWAY FROM HIM
hope this helps