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This is incorrect in my experience. My company was sued by LinkedIn about a year after receiving a $1MM seed round. We were low on money with about $250K left a
by shon 4y ago
This is incorrect in my experience. My company was sued by LinkedIn about a year after receiving a $1MM seed round. We were low on money with about $250K left and raising when the suit hit.
This is a game of leverage.
Lawyers are tools that have to be used effectively to apply leverage. Like any tool, good ones make a big difference.
At the time LI was worth about $30 Billion, we had $250K. We convinced LinkedIn to settle after about 4 months in SF court for a nominal amount.
Good/ethical lawyers were critical along with significant creativity from our side on how to use them.
We survived, raised a round and the company is still kicking.
- staticman2 4y agoIf Linkedin decided they wanted to put you out of business the lawyer would not be able to arrange a settlement. A lawyer does not even control whether their own client settles.
- shon 4y agoYou think so? Read the case. “LinkedIn v. Robocog”. If you think they let us go out of the kindness of their hearts, I’m interested in hearing more of your thoughts Also, I didn’t say lawyers control settling. I said they’re tools that can be used to achieve an outcome. And the good ones are very helpful. Force multipliers. Ours were experts in IP law. They knew it well. We used them along with other leverage points to achieve our settlement.