4 ms·

Gather all of your correspondence, particularly anything written that discusses equity and speak to a lawyer. A short consultation won't cost very much and they

Gather all of your correspondence, particularly anything written that discusses equity and speak to a lawyer. A short consultation won't cost very much and they'll be able to give much better advice that is specific to your situation than a bunch of random people on the internet.

x0x0 11y ago
Ignore the rest of the people here; you need to see a lawyer who can look at the contracts you have or have not signed, the emails you have, the state this company is incorporated in, and advise you as to what your rights are. ps -- instead of being emotional and incoherent (it's natural to be upset about this, but it doesn't help), write out a short summary organized by date with any supporting documentation. Keep it brief. Make it complete. Give this to a lawyer during a consultation. It will do a much better job summarizing things than you trying to explain it all verbally with all the things you'll forget or tell out of order. This is from unfortunate personal experience.
- hedgehog 11y ago
  An attorney can help you work through the mechanics of your situation, some additional things to keep in mind (while you're getting materials to talk to them because really, do that first): 1. Try talking to someone who you trust & who is totally unconnected (maybe a family member) and get an alternative and more charitable interpretation of the other founders' actions. In the end you may not believe it but it's a useful perspective. 2. Only work with people you like and trust. From the sound of it whatever the legal options you probably don't want to keep working with this team. 3. Founder equity is not worth much if you don't also have a continuing role in the company (leverage) or a strong relationship with the remaining founders (trust). There are many things that can happen in future financing that are highly dilutive and if protecting your interests is not seen as essential your 30% could end up not worth a lot (or readily liquid). Cash in any amount is probably more valuable. 4. Even if you legally can use the IP for a new company doing so could give the current team ammunition to take shots at your reputation. Good luck.
  - x0x0 11y ago
    I think you're totally right, but as the op was discussing taking the idea and pursuing it on his or her own, it would be a debacle to do that with a legal overhang. God forbid it takes off but he or she turns out not to own it...
jen729w 11y ago
I know HN doesn't like "me too" comments but, really, this can't be stated strongly enough. Do not listen to anyone on these comments other than the people that tell you to go and see a lawyer, immediately. And yes, be calm, be methodical. Generally, when it comes to the law, sensible wins. Screaming and shouting rarely does.

x0x0 11y ago

Ignore the rest of the people here; you need to see a lawyer who can look at the contracts you have or have not signed, the emails you have, the state this company is incorporated in, and advise you as to what your rights are. ps -- instead of being emotional and incoherent (it's natural to be upset about this, but it doesn't help), write out a short summary organized by date with any supporting documentation. Keep it brief. Make it complete. Give this to a lawyer during a consultation. It will do a much better job summarizing things than you trying to explain it all verbally with all the things you'll forget or tell out of order. This is from unfortunate personal experience.

hedgehog 11y ago
An attorney can help you work through the mechanics of your situation, some additional things to keep in mind (while you're getting materials to talk to them because really, do that first): 1. Try talking to someone who you trust & who is totally unconnected (maybe a family member) and get an alternative and more charitable interpretation of the other founders' actions. In the end you may not believe it but it's a useful perspective. 2. Only work with people you like and trust. From the sound of it whatever the legal options you probably don't want to keep working with this team. 3. Founder equity is not worth much if you don't also have a continuing role in the company (leverage) or a strong relationship with the remaining founders (trust). There are many things that can happen in future financing that are highly dilutive and if protecting your interests is not seen as essential your 30% could end up not worth a lot (or readily liquid). Cash in any amount is probably more valuable. 4. Even if you legally can use the IP for a new company doing so could give the current team ammunition to take shots at your reputation. Good luck.
- x0x0 11y ago
  I think you're totally right, but as the op was discussing taking the idea and pursuing it on his or her own, it would be a debacle to do that with a legal overhang. God forbid it takes off but he or she turns out not to own it...

jen729w 11y ago

I know HN doesn't like "me too" comments but, really, this can't be stated strongly enough. Do not listen to anyone on these comments other than the people that tell you to go and see a lawyer, immediately. And yes, be calm, be methodical. Generally, when it comes to the law, sensible wins. Screaming and shouting rarely does.