4 ms·
> If an investor or employee of the investor/accelerator/incubator makes a sexual advance towards me or anyone in my company, then they are stripped of all of t
by dikaiosune 10y ago
> If an investor or employee of the investor/accelerator/incubator makes a sexual advance towards me or anyone in my company, then they are stripped of all of their shares in my company (even the ones that have vested) and there will be a public notice to shareholders as to the reason why.
As someone unfamiliar with investment contracts, what's the typical burden of proof like for comparable "nuclear option" moral clauses? Is there typically some kind of evidence required in the contract? Or is it just assumed to be "whatever will hold up in court"?
To be clear, I think this is a very interesting idea, and am in fact a little sad it isn't common place (it seems like something that should be covered by the kind of morality clauses which I understand to be common place). However, an idea like this needs to be enforceable to be practical and thus valuable.
EDIT: Since this is an often controversial subject, I want to be very clear: I'm not trying to imply that founders/employees will make these claims up. Rather, that assertion is one which is very likely to be used by the well-paid legal teams of whoever you're trying to evict from your board. Would this kind of clause actually stand up in court under that kind of assault?
- sarahnadav 10y agothere are all kinds of "bad actor" and nuclear option moral clause. I personally (as a founder) once had to sign a "non-embarrassment clause" where I guaranteed not to embarrass the investor. Since I am basically creating this with my lawyer, I am going to make it unambiguous- either a recorded conversation, a verifiable conversation on text/whatsapp/email, a photo or in extreme cases a rape kit. In my opinion this should be a deterrent rather than something that would ever need to be enforced. But it can't be a "he said/she said" either
- brador 10y ago> either a recorded conversation, a verifiable conversation on text/whatsapp/email, a photo or in extreme cases a rape kit. It sounds good in theory, but the definition of sexual advance is vague. The investor will be thinking - what if some day you feel that you just want to take back the shares, how easily could you action this clause and what protections do I have? If we're talking a lost court case against the investor, then yeah that works and is solid. If you want to action the clause without that then who will be judging if the recording/photo etc. qualifies under the sexual advance claim?
- sarahnadav 10y agothese are terms that I am working on with my lawyer- and I am sure investors will have some push back and changes of their own
- hulahoof 10y agoWhy just protect women? Feels like you could help everyone with little extra effort.