Greetings, I'm Kenneth Stein, a registered patent attorney located on the California Central Coast. I specialize in electrical, photonic, computer, and medical related inventions. Feel free to email me at [email protected]. Provide your name, phone number, and a time you are available to discuss. I will call you.
Given that the page has 1000 unique views per day, is there any revenue? Any earnings? The 10k offered is strategic. They selected an amount that indicates their uncertainty regarding your business acumen. It was not an insulting lowball offer. It was an invitation to negotiate. If you would like to discuss please email me at [email protected]. As an intellectual property attorney, I'd be happy to provide some counsel.
In general, if it's my experience that German citizens are very fiscally conservative. Now you may disagree with your family, and they may feel obligated to persevere in their duty to prevent or minimize any adverse consequences that result from your naivete, or willful ignorance. Pay attention to the following story... And the lesson you need to learn.
Bill Gates and Paul Allen were negotiating how to split the founder's stock for their new company, Microsoft. Gates argued that Allen had a part time consulting job so he, Gates, ought to receive a majority of the shares. ALLEN RELENTED agreeing to a 60/40 split favoring Gates. They signed their agreement and all the necessary paperwork, and the next day Gates went out and landed a CONSULTING GIG much like Allen had!
The lesson is this... Don't be the dumbass who gets played. Be the smart ass who wins without taking unnecessary risks.
If you're serious, and you're smart, you will maximize your upside and minimize your downside. You might have to become more efficient, seriously committed to your success, and less concerned about your ability to work at a level you have never before attained. Admit that to your family and let them know you're going to do it m.. And that you will require their support. As you may at times cry like you're a 6 year old boy. Your parents will support you, as long as you're not being a dumb ass.
Be a smart-ass and your family won't hassle you nearly as much. Heck, they might even start to offer to contribute... Time, resources, effort. But that's only if you really start to figure your shit out.
When you ask 'how viable is this model?' There are muliple contexts...1. product/market fit, 2. Technical 3. Financial, and others. Contact me and we can discuss off line. [email protected]
Hello Henry, Kenneth Stein here in Santa Barbara. While I'm inclined to post a substantive response to your query, I'd rather discuss with you offline. Feel free to view my LinkedIn profile: https://www.linkedin.com/in/kennethsteinesq
Great, patent attorney with uMich undergrad in computer engineering, well connected in Santa Barbara. Available after 10am. Email @ Wayclever@gmail and let's discuss.
The way in which you phrase the question illustrates a lack of sophistication. Your decision should depend on whether or not YOU are provided the revenue info. During your interview you ought to have discussed the issue. You could have taken the opportunity to explain that you understand that this info is confidential, and that while it makes little sense to disseminate such across the organization, it is important that you are apprised of such.
I can't provide you the rationale why it is important. You have to establish that yourself.
Finally, if you are saying that revenue figures are shared with investors, but not with any employees other than c-suite execs, then no you do not want to work there. However, I don't think this is your question.
When you say that the company is "coming after you," do you mean to say that the CEO is calling you saying that he/she expects you to grant some ownership interest in your new venture? Or do you mean that you have received a communication from an attorney representing the company, and that in the communication the attorney makes an argument as to why the company has an ownership interest?
When you say you had no "employment agreement" in place, does this mean that there was nothing in writing? Or do you mean that there was no agreement whatsoever regarding relative contributions, time and financial commitments, division of equity, etc.?
If you would like to discuss this matter, feel free to contact me at (805)259-5778. I am an attorney with a computer engineering degree, and I specialize in IP, corporate, and HR related matters and would be willing to discuss the matter with you.
Free music? Before you make such a claim, you might get in touch with the record labels that have exclusive rights to these songs you say are free. Have you signed deals with Universal? WB? Sony?
You are trying to fit a deterministic philosophy into our probabilistic world. If you exercise, any number of outcomes may transpire, including heart attack. Minimum risk with maximum reward may be a more realistic approach.
There are quite a few law startups with legal practice SASS offerings, b2c marketplaces, document management. You likely haven't heard of these unless you're a lawyer, and even then it's not likely. How many dental startups are you following? None, I'm guessing.
And now the grape will have to declare bankruptcy because it can't afford to pay the $100,000 bill for the surgery. Poor grape will not be able to afford the necessary aftercare and will likely shrivel until it has no raisin to live anymore.
Question: Have you and your co-founders each executed an agreement assigning all right, title and interest in and to any IP to the company? If so, the code isn't yours to take, and it makes no sense for your co-founders to give away any IP rights (copyrights and potential patent rights).
Your narrative tends to cast your partners as distracted by other business ventures, it seems that you are searching for a way to disengage. If they were savvy, they would not agree to your proposal. The code base is company property (that is if you have completed the process of corporate formation). You might believe that your contribution in teh form of code disproportionately exceeds your co-founders contributions. Had you actually formed a company, assigned the IP to the company, determined the value of each founders contributions in addition to any IP (cash, equipment, space, expertise, time commitments) you would be able to foresee how your co-founders will respond to your proposal.
IF I'm incorrect and you have filed articles of incorporation, drafted bylaws, and executed agreements issuing founders stock, then I suggest you consult with your outside counsel (you know, the attorney(s) who drafted all those agreements for you) to help ensure you don't f_ck up the operations of your "profitable home services business".
Suggest you ask yourself the following "why am I walking away from a profitable business? Especially when I committed to building that business with my co-founders?"
Maybe you have realized you don't get along and so you want out. In that case, offer to purchase the code base, and agree to payment terms that provides enough runway for you to generate revenue and pay for the code base over time.
Finally, you wouldn't be "giving" equity to your co-founders. You would be issuing equity in exchange for the "home services company" assigning all right, title and interest in and to the code base and any associated IP to your new company. If your platform is adding value, it makes little sense for them to agree to an assignment. Instead, they should offer to license it to your new company for royalties, equity, and continued development.
Regards,
Ken