5 ms·
I thought this was just a boilerplate work for hire contract, but on pg 11 it surely says: Second is the conditioned development of the software, program and f
by hop 16y ago
I thought this was just a boilerplate work for hire contract, but on pg 11 it surely says:
Second is the conditioned development of the software, program and for the purchase and design of a suitable website for the project Seller has already initiated that is designed to offer the students of Harvard University access to a website similar to a live functioning yearbook with the working title of "The Face Book".
It is agreed that the purchaser will own a half interest (50%) in the software programming language and business interest derived from the expansion of the service to a larger audience.
And goes on to say he gets 1% more of the business every day its not completed after Jan 1 '04.
Thats a pretty valuable piece of paper this guy has held onto for the last six years, their lawyers will make a lot of money on this if its not a forgery.
- zweben 16y agoPage 11? I only see two pages. What am I missing?
- deleted 16y ago[deleted]
- hop 16y agoSorry, its the 1st page under "2. Entire Agreement" (I was looking at the whole lawsuit - http://www.scribd.com/doc/34239119/Ceglia-v-Zuckerberg-complaint http://www.scribd.com/doc/34239119/Ceglia-v-Zuckerberg-compl... ).
- qhoxie 16y agoThis is actually just a couple of pages from the whole document. It is page 11 and 12: http://www.scribd.com/doc/34239119/Ceglia-v-Zuckerberg-complaint#page=11 http://www.scribd.com/doc/34239119/Ceglia-v-Zuckerberg-compl...
- gte910h 16y agoYeah, that's a pretty steep penalty clause, I feel there is little chance that part will hold. The initial 50% is in play for sure though.
- benofsky 16y agoHow would this work out though? As Facebook is owned by so many different investors now, they can't take away what they paid for?
- randallsquared 16y agoThey should count themselves lucky if they're not also charged with receiving stolen property. ;)
- gte910h 16y agoReceiving stolen property requires quite a few things ( like reasonable suspicion the items are stolen ) for that to be an option for charges. Stockholders clearly don't have that. I personally doubt stockholders will lose a single share no matter what happens.
- randallsquared 16y agoYeah, people weren't up for any investor humor today. Investors are serious business. I learned my lesson. :)
- gte910h 16y agoPeople really want Hacker News to not turn into reddit. So much so, humor is almost always downvoted if not also true.
- jonknee 16y agoThey sure can take away what they paid for if it turns out they paid for something illegitimate. Try buying stolen property and see what happens.
- gte910h 16y agoThere is a concept in common law called "A thief cannot pass good title". I'm not sure exactly how it applies to stocks though, if at all.