mickeyM

5 ms·

1.
Ask HN: Starting a worldwide branding company from a small country?
2 points by mickeyM 7y ago|0 comments
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by mickeyM 7y ago
Yeah, at this point I'll be careful about everything I sign & do, not only with this startup but with any I'd potentially join in the future
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by mickeyM 7y ago
That's right, but I remember that Jim really wanted to have his name on that contract which I've accepted at that time since he was the one coming up with the money for development
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by mickeyM 7y ago
Great take, thanks!
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by mickeyM 7y ago
The contract with developers states that Jim will own the finished product. My role in the app development was to make the initial sketches & app flow (both in the beginning and during the development), some design stuff, and Android te
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by mickeyM 7y ago
That's true, I've definitely learned a lot, I guess during my time with the company I was able to cover a lot of curriculum on various topics :) It would just feel bad to me to walk away for free from something I was working on th
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by mickeyM 7y ago
Thanks a lot. I think regarding the IP it's very messy and questionable who owns how much, because he may have paid for the development, but it was based on by sketches & app flow, and I've contributed to the development with
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by mickeyM 7y ago
Thanks for sharing your experience - that sounds pretty bad, I hope you work it out somehow. I think the vesting schedules should be talked about more especially among starting entrepreneurs so they can prevent situations like ours. If you
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by mickeyM 7y ago
Right, thanks!
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by mickeyM 7y ago
Thank you. They won't rework the app until they make some money off it first, so for the time being they would pretty much leave it as is. Since the freelance programmers (unknowingly) took very little money, the real value of the sour
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by mickeyM 7y ago
Good point. It's definitely something I'll consider. I guess in case I retain some equity, it would be sort of an agreement that I'll receive XY % in case the company is sold, so technically I wouldn't have a stake in th
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by mickeyM 7y ago
:) Thanks, sounds good!
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by mickeyM 7y ago
Yeah, there was no such agreement
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by mickeyM 7y ago
Thank you. We're not from the "better" European countries, so I'm not sure whether my work would have that much value. Maybe it would, but Jim would NEVER pay that kind of money. In that case I would most likely end up w
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by mickeyM 7y ago
Yeah, that's also one of the reasons for walking away, better to get it over with now
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by mickeyM 7y ago
I guess you mean I'd own 40%. Agree with the fuzzy part
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by mickeyM 7y ago
Thank you, good point. I'll try to get as much upfront as possible
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by mickeyM 7y ago
Thanks! I don't have money now to afford a lawyer, and even if I did, it's possible that I'd pay more for a lawyer than potentially get in cash or equity Jim would never leave me the company and frankly, I have no interest to
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by mickeyM 7y ago
Thanks a lot! To address one of your points: > Who is listing as hiring them on the contract, the company or Jim? Jim is the one. People around here suggested though that it doesn't really matter because for example I've contri
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by mickeyM 7y ago
Thanks a lot, great tips :) That's very reasonable, I'd gladly agree to that.
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by mickeyM 7y ago
Yeah, Jim buying me out would be a preferable option now
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by mickeyM 7y ago
Yeah, I'm currently 20 and Jim is over 30. That is one of the reasons I've decided to leave - I don't want this to sound cocky or something - but it was apparent that I'm more capable than Jim, or to put it other way Jim
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by mickeyM 7y ago
Yeah, after some comments from others I've realized that Jim doesn't really own all of the code/app. I guess that would be what I would do if he just starts a new company - wait and see what happens and if they get somewhere,
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by mickeyM 7y ago
Yeah, after some comments and thinking I think the walk away money would be more reasonable to go for than the equity. Thank you!
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by mickeyM 7y ago
Wow, I didn't know such thing happened to Microsoft too :) Always it's only Gates who gets the spotlight. Yeah, toxik also pointed to the fact I co-own the code (app), although from a different perspective. Thanks a lot!
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by mickeyM 7y ago
Wow, thanks a lot! I'm not sure how our country's law would look at this argument, I think it will be unclear and depend on the judge's decision, but it's definitely something that could bring Jim to senses - after all,
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by mickeyM 7y ago
Nope, Jim can only sell his equity (60%) - in other words, he has no right to sell my equity without my agreement
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by mickeyM 7y ago
I understand. I hope your health issues are resolved now. The funny thing is that the only way it would make sense for Jim to sell the company in a month is when I leave. Otherwise it doesn't in such time frame. Yeah, we have a company
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by mickeyM 7y ago
Well, the type of company we have isn't suited for startups or companies with a similar structure, so there's nothing he can do about the equity without my agreement. Thanks!
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by mickeyM 7y ago
True, I hope to it done as soon as possible

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