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That is interesting. Does that mean that advertising for a co-founder runs into the same problems? Or advertising for 2, or for 99 co-founders?
by alex_c 19y ago
That is interesting. Does that mean that advertising for a co-founder runs into the same problems? Or advertising for 2, or for 99 co-founders?
- shawndrost 19y agoYou may be breaking the same law, but you're probably breaking half a dozen other laws at the same time (zoning, etc) and this one seems no more likely to affect you. I suspect that corporate lawyers are mistakenly worried about irrelevant laws being broken, but I don't know if that's the case here: 100-person startups formed over a weekend face unique legal challenges.
- icky 19y agoIANAL, but IIRC, once you have over a certain number of shareholders (and it's somewhere in that neighborhood), you are effectively a public company. Which means you get screwed by SarbOx. (And you've already had your "IPO", so there goes even more money).