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Thanks for your response. Yes, I didn't really want to be thinking about complicating the legal structure this early. We've made it clear to them that our comp
by wheresmycraisin 6y ago
Thanks for your response. Yes, I didn't really want to be thinking about complicating the legal structure this early.
We've made it clear to them that our complete ownership of the IP is non-negotiable, and they haven't challenged it. That doesn't preclude them from trying something legally clever obviously, but we would get any contracts reviewed by our own lawyers.
The scaring-away of other investors is a strong concern, though we don't plan on raising funding... not sure if a VC would raise eyebrows if 5-10% has already been carved out, even if it were done cleanly.
Also, I'm hoping they won't ask for access to our communications and plans with other customers. That has not come up. Actually we did talk about us selling to their competitors, and they claimed, because they have multiple business arms, a lot of our other customers will also be their customers. It's hard to figure out how true this is.
I'll definitely take you up on your offer after I digest the situation more, thanks!