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Thanks. Unfortunately we entered the market with some value, then sold a few shares to friends & family with a set price. Now we appear to be constrained by the

Thanks. Unfortunately we entered the market with some value, then sold a few shares to friends & family with a set price. Now we appear to be constrained by the value we set on the few shares we sold.

jhancock 16y ago
If the value you have is too high to enable "founders" to buy in, you probably have to issue them options instead. These contracts and accounting get more complicated. Best dig through a couple of the free startup legal kits that have been published on HN from time to time. Here's one: http://www.orrick.com/practices/corporate/emergingCompanies/startup/index.asp http://www.orrick.com/practices/corporate/emergingCompanies/... You can search searchyc.com to find others.