HN Explorer

Company rejected my idea, now they want piece of my new company

4 points by boniface316 ↗ HN
Here is the situation. I cofounded a company with group of friends. Our product failed to attract beta customers. I informed the CEO that we might be building a product that customers dont want and I presented him with what I think is the right product. He completely rejected the idea and dismissed me for not believing in his vision.

I talked to lawyers in the field of employment, IP and corperate to make sure that I am not doing anything wrong. Since There was no employment agreement in place, they advised me that I am entitled to continue.

After 3 months of working on this product. I was able to attract customers immediately. Now the company is coming after me.

Has anyone had issues like this?

2 comments

[ 2.6 ms ] story [ 14.7 ms ] thread
wayclever
When you say that the company is "coming after you," do you mean to say that the CEO is calling you saying that he/she expects you to grant some ownership interest in your new venture? Or do you mean that you have received a communication from an attorney representing the company, and that in the communication the attorney makes an argument as to why the company has an ownership interest?

When you say you had no "employment agreement" in place, does this mean that there was nothing in writing? Or do you mean that there was no agreement whatsoever regarding relative contributions, time and financial commitments, division of equity, etc.?

If you would like to discuss this matter, feel free to contact me at (805)259-5778. I am an attorney with a computer engineering degree, and I specialize in IP, corporate, and HR related matters and would be willing to discuss the matter with you.

Kenneth Stein, Esq.

boniface316
Hey, I really appreiate your reply. This case is taking plae in Toronto and I have little to no money to pay you. I really do appreciate your feedback.

CEO is saying that since I got the idea while working for him, he believes that he deserves all of my project. They have money so they got a lawyer sending me mail saying I should stop it.

I talked to lawyers in the field of employment, IP and corporate to see if there is any issues. So I am clean. But they want to stop me from raising money by sending me statement of claim.