411–420 of 435 posts
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The OP said it was a 4yr reverse vesting schedule and that they currently owned 40%.
With a 1 year cliff, I’m pretty sure he effectively owns 0 right now.
It sounds like you own 40% of something fairly valuable and now that it's 11 months into your contract other founder who needed your help is getting greedy and trying to push you out before you are owed anything. You said it yourself, you've grown hugely, you're dominating SEO since you joined, and built loads of products. This is your 'partner' getting greedy after you've done a lot of hard work. It wouldn't have ha…
I would request OP to assume good intent and ask the following question.
> What are you giving me in return of my 40% of the stock ? Why is that a fair price ?
I do not know, but it is perfectly possible that the other person might have a good answer. If you have already made up your plan you guys can agree on some kind of plan where you divest your stock over a period in one way to another.
I have a suspicion that the other co-founder probably does not want OP around for whatever reason. But OP can help him by simply taking a break while keeping the stock.
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Interesting. Say more? Thanks!
IANAL, but my understanding is that in order for the company to keep ownership of your designs, code, and other IP, you'd need to get some sort of consideration for that work. If you've been paid at least minimum wage then that counts as consideration, but if you haven't then you need to negotiate something reasonable in situations where a founder leaves the company before their 1-year cliff. 3% is fine, 0% wouldn't…
Might be different in other jurisdictions.
The worst thing you can do is stay. Any compromises you make for the greater good in hopes of getting past this and putting it behind you are likely to come back to bite you 9 out of 10 times. Cofounder conflict doesn't go away so easily.
It sounds like you own 40% of something fairly valuable and now that it's 11 months into your contract other founder who needed your help is getting greedy and trying to push you out before you are owed anything. You said it yourself, you've grown hugely, you're dominating SEO since you joined, and built loads of products. This is your 'partner' getting greedy after you've done a lot of hard work. It wouldn't have ha…
Not clear who actually owns the equity outright. If its the OP, based on what's written and nothing more it sounds like a racket the non-technical founders are running. I personally would identify the laziest path for you to exercise your rights to extinguish the entire venture, ideally with counsel, and then tell the other people what you've decided to do, let them name their price. If things roll your way, maybe yo…
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Bingo! Now you know it’s BS. This really sucks. It’s not a good place to be. The fact that they won’t take a buyout from you means they are pulling a fast one and someone probably said “You know, it would look better if it was just you” somewhere down the road. Don’t sell, don’t give, don’t walk away. Stand firm. This was a binding agreement they can’t get out of. You have all the power here. You know you have someth…
How do you figure NTF can't get out of it? Couldn't they fire TCF with the investor's cooperation?
Can I give you some advice that really sucks? Walk away. It's not fair, but starting a company isn't like getting a job. It's a relationship and a risk that doesn't always work out. Sometimes you find more money and success than you could ever dream of, and other times you waste 11 months. Here's my thought process. You and your cofounder aren't going to be able to work together after this. The company has no money a…