My co-founder decided to quit our startup after a couple months of work. We have not yet incorporated and have no previous written agreements. He had developed a portion of the code base. Luckily the split is on amicable terms, and he verbally agreed to (1) relinquish all of his equity and (2) relinquish the IP rights to all the code he has so far contributed. We both decided that we need these agreements in writing, but we're not sure what documents we need.
1) What do we need him to sign? I think we need him to sign an Intellectual Property Assignment agreement passing the code from him to myself. I think we perhaps need a formal Letter of Resignation from him. But what else? Does he need to sign anything indicating that he gives up all equity in the company, even though we don't have an existing Shareholder's Agreement?
2) Do these documents need to be notarized? I've read some sample IP Agreement templates and they require both our signatures, but we currently live in separate states. I'm wondering what the mechanics are behind notarization in this case (do I get the documents notarized on my side first, then mail it to him and he gets it notarized on his end, then sends copies back to me?).
I'm part of a team that recently launched the Signr app (available right now on the Apple App Store). Versions for Android and Web are in development.
Wanted to get some feedback from this community on any challenges or roadblocks some of you have encountered in this space that might help us in growing the app.
Also any constructive feedback, improvements or comments are welcomed. Thanks!
I joined a startup in April and just received my options paperwork and am a little confused on the strike price.
The company raised a financing round in January. The paperwork says that my strike price is $ X at the January 409A. I know the fully diluted percentage that my equity represents, and if I multiply out the strike price to get a valuation, that valuation is less than the round we just raised.
So was the strike price I was given the price before the latest financing round was closed, even though I joined after the round closed? If so that seems very advantageous to me with a cheaper strike price.
We are exploring tools to share internal customer support documentation and do not want to host it on the website. We would like the access to be given only to customers based on their domain or whitelisted accounts. One option we came across was DocSend which meets the criteria but is fairly expensive. Are there any other alternatives? How do other startups handle this if they do not want to publish support docs publicly? Thanks!
My partner and I created an app. we are not the most business-savvy people at all. We are just a bunch of software developers with an app that's not even fully integrated, but we need proper funding for it. The app to us is an insane idea that we believe no one thought about before. Some of our close friends feel the same too.
We want to finish the app, but we need to do extensive testing for it to work smoothly, and that costs a lot of money. That's why we're searching for investors currently, but the thing is we have no idea of what to present them other than the app. I need to know in detail everything that there is to create/do for an investor to invest.
One last thing that I forgot to mention when it comes to the main idea, basic marketing plans, and finally how to make money off of the app, we have that covered. But when it comes to the exact numbers of the cost, we can't even estimate. How do you calculate these things?