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To make things clear, the new company is in a completely different market, and we would not be competing. Anyways, I don't think I signed a non-compete and didn
by throw_away_100 15y ago
To make things clear, the new company is in a completely different market, and we would not be competing. Anyways, I don't think I signed a non-compete and didn't see anything about it in our agreement paperwork. We are not based in California.
When you say split the difference in shares, what do you mean? Give back 1/2 my shares? Is there anything I should request in return as far as compensation for the shares? I don't think they are worth anything today.
- nostromo 15y agoMy broader point is that if they are really upset with you, there are things they can do to dilute or remove your share of the company. To avoid all that potential legal nastiness, I would do my best to find a way to come to a signed agreement. Obviously I don't know much about your situation, but I would immediately return the laptop, and offer to give back half (or some %) of the shares as a sign of goodwill. By the way, I'm assuming you did take some sort of salary or other compensation. If not, I wouldn't be as giving in terms of shares.
- throw_away_100 15y agoI took a very small salary (min wage) to get by and pay bills, not much else in return for equity. My co-founder has already offered to sell our software to another company for ~$10k which is why it's not an easy choice to give shares away for me. I may have to come up with a number that makes sense.