3 ms·
Surely should be doable to buy the co-founder with 5% ownership out? But yes talk to a lawyer no HN help will pale to that of an actual lawyer.
by gigatexal 2y ago
Surely should be doable to buy the co-founder with 5% ownership out? But yes talk to a lawyer no HN help will pale to that of an actual lawyer.
- crushersk 2y agoHow would we value his 5% shares of a company that has no money now, no product, no revenue. We have some designs, brand design etc, valued patent (although 4 years old now). But we need to do new hardware design, still develop our software.
- passwordoops 2y agoHow was it valued in the first place?... Talk to a lawyer
- gigatexal 2y agoDouble the initial valuation and give them that divided by 20. Then you can move on. Just a wild thought though.
- ozim 2y agoGuy still doesn't have to sell his shares, he still might want more and you cannot force someone to sell off his shares - only way is to agree on price he will accept. You still might make reasonable arguments but yeah making arguments doesn't make the deal, other guy agreeing makes the deal.
- fakedang 2y agoHis initial valuation is itself questionable. How is 250k at a 1m valuation equal to 70% for the investor? Sounds like an error on OP's part in the post, or a very painful mistake irl.
- deleted 2y ago[deleted]