Hot answers tagged co-founder
4
If I were the other members of the team I would be interested in buying you out.
A reasonable number might be $30,000?
You could have earned $60,000 at a normal job, but instead you took a risk and you are now folding your hand - so I wouldn't expect you to get paid more than you would have if you took the safe route.
Also, you are leaving the company ...
4
The developer has no problem assigning the code, however, he won't assign it unless we give him the rights to re-use some of what he calls "generic" code.
You need to clarify what "generic" and "reuse" means.
It would seem that the core issue here isn't that the developer has discovered a novel, groundbreaking approach that will generate millions and ...
3
If there's nothing signed, you're on very squishy ground and you should consult with an attorney asap.
If there's an NDA in place, that doesn't evaporate if you don't include him.. unless the agreement says otherwise. If it says he can't talk about the project elsewhere, then he can't. You just have to be willing to back it up because a contract without ...
3
Before this point, he was your good partner and now he wants something which puts your business at risk (at least you see it in that way). I work with programmers, they tend to reuse their code whenever possible. You don't need to be a programmer to know how copy/paste feels good. Also this is the only guarantee he has for his effort (he is not paid for that ...
3
As a programmer, we have generic code all the time - its usually the technical glue that holds a program together and allows it to work without actually being a program in itself. Think of a website - the web server is 'generic code', and nothing to do with the website code. The dev might want to take his equivalent of a webserver, or parts thereof, away ...
2
Perhaps you could calculate the percentage based on what it would be if you did include vesting from day one. Considering that you left after six months typically you would get nothing because most vesting kicks in after one year. (E.g. 25% after first year and 25% each additional year prorated monthly.) However, you could consider a vesting schedule, e.g. ...
1
If he has had it on his servers and if you havent signed a contract and the developer is still asking you if he can keep some generic code, I would just the fella keep it. Of course, you could make an agreement about the generic code and how if he ever makes money from it, he should pay you royalty et cetera. In reality, it is almost extremely difficult to ...
1
He is lazy / wastes 5-6 hours every day on social networking and the
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Okay - whether it is wasteful or not depends on what actually gets delivered at the end of the week. Many people search for inspiration / input from others while formulating a plan of attack. Others just post what they just ate.
Rather than labeling what (s)he does as ...
1
Ive seen similar issues myself and the best thing I think one can do in this scenario is build a stronger team without him..
Suggest to him that you both dissolve 10% each to get someone in on 20% equity. Ok you lose 10% but you now have a team member who is actually helping you. If you can do that a couple of times, you have diluted the impact his laziness ...
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