Hot answers tagged partnerships
4
Typically they would just want a document admitting in writing that you in fact do own all of the IP and that should their be any IP infringement the penalty / punishment will be on you.
Assuming you wrote all of the code and any open source code you used were released under MIT or some license that allows you to write commercial software based on it ...
3
Here is now this type of situation typically rolls out:
The developer provides all available written documentation supporting the proposition that he owns all rights.
If the other party is concerned about any holes, the other party provides additional documents and asks the developer to have them signed by the relevant individuals or entities.
Irrespective ...
2
I think the 20% money back for 5% equity is quite fair in this situation. Basically, you buy back 85% of his equity for 20% of his initial investment. If you're unable to give him back the 100% of hist investment for 100% of his equity - that's the next best thing, and it is a very generous and fair offer on his behalf.
It doesn't sound like you expect him ...
1
In Ontario, for example, you can set up a company with multiple classes of shares. One class may have voting rights, another not. Within the class that has voting rights, votes are split proportionally.
BUT you can also set up a shareholder's agreement that states what percentage of votes is needed to make changes, how many seats on the board of directors ...
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