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Starting a Business

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Old 06-12-2012, 05:24 PM   #31
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Re: Starting a Business

[QUOTE=saden1;921045]The issue I have with just kicking him to the curb is that he has documents relating to our business from the get-go (business concept, revenue model, feature set, etc). He also had access to our initial dataset which took a month to collect and is highly invaluable to our business. You never know what disgruntle people are capable of doing which makes legal action inevitable.[/QUOTE

Does he still have access and if so the first thing you need to do is block him from having access. The business concept and other stuff is probably nothing new (I could be wrong) so that info is pretty useless. As you know I'm in Insurance sales and what seperates me from the other is I have a working business plan and I stick to it and treat the customers the best we can. Thousands of people have the same business plan and concept but they fail to follow through with the plans so its not big deal.
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Old 06-12-2012, 06:00 PM   #32
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Re: Starting a Business

Quote:
Originally Posted by firstdown View Post
Does he still have access and if so the first thing you need to do is block him from having access. The business concept and other stuff is probably nothing new (I could be wrong) so that info is pretty useless. As you know I'm in Insurance sales and what seperates me from the other is I have a working business plan and I stick to it and treat the customers the best we can. Thousands of people have the same business plan and concept but they fail to follow through with the plans so its not big deal.

No, he no longer has access to our data or our collaboration site. I know it's all about execution but there is still concern about him making equity claims now or in the future. Hopefully it won't be difficult to get him to move on.
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Old 06-23-2012, 07:48 PM   #33
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Re: Starting a Business

Just to give you guys an update...

I talked to the lawyer and he instructed me to send out an email that calls a mandatory meeting in which meeting attendance is explicitly tied to equity stake in the company. Basically, partners that don't show up forfeit their stake and the partner I was having an issue with didn't show up thus firing himself and relinquishing current and future stake in the company.

The best thing that could happen happened and now we can move on without him.
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Old 06-25-2012, 09:42 AM   #34
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Re: Starting a Business

Good to hear.
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Old 06-25-2012, 05:05 PM   #35
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That is good to hear. Good luck in the new venture!
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