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Alternative advice: It's such a small team, and clearly money is tight, so hiring a lawyer is going to waste a lot of money and you will all be squabbling over
by lancewiggs 11y ago
Alternative advice:
It's such a small team, and clearly money is tight, so hiring a lawyer is going to waste a lot of money and you will all be squabbling over scraps.
Instead consider pointing them to this post,and sit down with them to work out an outcome you can all live with. Don't be afraid to get less than your 'fair share' in order to get a deal done,but they should also know there is the credible threat of a lawyer. They just want you out of there, you just want a trailing stake - but they will stay and keep working, so they deserve much more.
However if the founders have gone feral and are not willing or able to be rational, then consider writing a formal letter insisting on your rights to the vast bulk of the stock owing to you and sign nothing they give you. This way if the company ends up doing well then you have more evidence that you can hand to a much more expensive lawyer.
I've been done over a bunch of times, and it's alost always better to just move on. You are playing a multi-round game and the most valuable commodities are your time and mental health, not money.