wayclever
Regards,
Ken
Ken Stein
Bill Gates and Paul Allen were negotiating how to split the founder's stock for their new company, Microsoft. Gates argued that Allen had a part time consulting job so he, Gates, ought to receive a majority of the shares. ALLEN RELENTED agreeing to a 60/40 split favoring Gates. They signed their agreement and all the necessary paperwork, and the next day Gates went out and landed a CONSULTING GIG much like Allen had!
The lesson is this... Don't be the dumbass who gets played. Be the smart ass who wins without taking unnecessary risks.
If you're serious, and you're smart, you will maximize your upside and minimize your downside. You might have to become more efficient, seriously committed to your success, and less concerned about your ability to work at a level you have never before attained. Admit that to your family and let them know you're going to do it m.. And that you will require their support. As you may at times cry like you're a 6 year old boy. Your parents will support you, as long as you're not being a dumb ass.
Be a smart-ass and your family won't hassle you nearly as much. Heck, they might even start to offer to contribute... Time, resources, effort. But that's only if you really start to figure your shit out.
Peace Out.
Kenneth
My email is:[email protected]
Look forward to hearing from you.
Kenneth Stein
When you say you had no "employment agreement" in place, does this mean that there was nothing in writing? Or do you mean that there was no agreement whatsoever regarding relative contributions, time and financial commitments, division of equity, etc.?
If you would like to discuss this matter, feel free to contact me at (805)259-5778. I am an attorney with a computer engineering degree, and I specialize in IP, corporate, and HR related matters and would be willing to discuss the matter with you.
Kenneth Stein, Esq.
www.hireanesquire.com www.plainlegal.com www.InCloudCounsel.com www.casetext.com
There are quite a few law startups with legal practice SASS offerings, b2c marketplaces, document management.
www.hireanesquire.com www.plainlegal.com www.InCloudCounsel.com www.casetext.com
There are quite a few law startups with legal practice SASS offerings, b2c marketplaces, document management. You likely haven't heard of these unless you're a lawyer, and even then it's not likely. How many dental startups are you following? None, I'm guessing.
Your narrative tends to cast your partners as distracted by other business ventures, it seems that you are searching for a way to disengage. If they were savvy, they would not agree to your proposal. The code base is company property (that is if you have completed the process of corporate formation). You might believe that your contribution in teh form of code disproportionately exceeds your co-founders contributions. Had you actually formed a company, assigned the IP to the company, determined the value of each founders contributions in addition to any IP (cash, equipment, space, expertise, time commitments) you would be able to foresee how your co-founders will respond to your proposal.
IF I'm incorrect and you have filed articles of incorporation, drafted bylaws, and executed agreements issuing founders stock, then I suggest you consult with your outside counsel (you know, the attorney(s) who drafted all those agreements for you) to help ensure you don't f_ck up the operations of your "profitable home services business".
Suggest you ask yourself the following "why am I walking away from a profitable business? Especially when I committed to building that business with my co-founders?"
Maybe you have realized you don't get along and so you want out. In that case, offer to purchase the code base, and agree to payment terms that provides enough runway for you to generate revenue and pay for the code base over time.
Finally, you wouldn't be "giving" equity to your co-founders. You would be issuing equity in exchange for the "home services company" assigning all right, title and interest in and to the code base and any associated IP to your new company. If your platform is adding value, it makes little sense for them to agree to an assignment. Instead, they should offer to license it to your new company for royalties, equity, and continued development.
Summum Bonum.
Or are you seeking IP litigation counsel (i.e. patent infringement)? If so, are you prospective plaintiff, or defendant?
Will check back and depending upon your response will suggest candidate(s) that best fit your present needs. Otherwise, you can simply conduct a Google search, or call Wilson Sonsini Goodrich & Rosati in Palo Alto.