3 ms·
A lot of good advice on here. Let me add another point, maybe just consider negotiating an acquisition. Yes, it does kind of suck they stole your idea. But the
by dcolkitt 8y ago
A lot of good advice on here. Let me add another point, maybe just consider negotiating an acquisition.
Yes, it does kind of suck they stole your idea. But the fact that they have $55 million in funding, probably means they're willing to buy you out for a couple million. One, just to avoid any legal issues. Two, because you've already done a lot of work on the problem.
Maybe it's worth fighting. But maybe it's also worth considering getting a multi-million dollar payday, and moving on to something else.
- otoburb 8y agoIf they go down this route, SmartCar should ask for at least their post-money valuation based on their last $10M raise back in March 2018[1], not just a "couple of million". [1] https://www.crunchbase.com/organization/smartcar#section-overview https://www.crunchbase.com/organization/smartcar#section-ove...
- stale2002 8y agoNo judge would agree to that as damages. The smart car documentation is worth some amount of money. But there is no way in hell that it is worth 10 million dollars. In law, there is this concept of "damages". Smartcar did not get lose 10 million dollars because a company stole their docs.
- otoburb 8y agoUnless I misunderstood, the parent comment referred to a buy-out/acquisition route, which is where SmartCar should ask for at least a post-money ballpark figure -- no judge involved in an acquisition process. If SmartCar goes for damages, then that's an entirely different ball of wax.