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I get that it's only supposed to be used if there is a "problem" but I have some concerns about it, not limited to the fact that most of the code we right is GP
by JavaRhino 14y ago
I get that it's only supposed to be used if there is a "problem" but I have some concerns about it, not limited to the fact that most of the code we right is GPL'd or touched by GPL.
I'm being told this is necessary for a diligence audit (we're a startup working on a funding round.)
Could really use some feedback on this document as it's completely outside my knowledge domain.
- paulhauggis 14y agoThey will own anything you create outside of work. If any of your side projects see any kind of success, they will most likely come after you for ownership.
- anigbrowl 14y agoYou would have to show that anything non-work related which you produce existed in at least idea form before you signed this (by attaching it as 'Exhibit A'). Anything you don't declare up front belongs to the company for the duration, including your inspiration as soon as you commit it to tangible form. You could ask for a clause providing you with an opt-out mechanism for side projects you may come up with later, eg open source things you want to do for the public good or whatever. It's boilerplate, but it's very one-sided boilerplate. I wouldn't sign this unless I had equity.
- JavaRhino 14y ago> I wouldn't sign this unless I had equity. Great point. Do vesting options count here, or are you talking real equity?
- tptacek 14y agoOptions and vesting are common even with key employees; founders sometimes have a different equity vehicle than options, but founders should always be on a vesting schedule too.