Questions

1. I am a veteran in a particular sector. 2. I was working for someone, but, an opportunity has come my way to do it on my own. 3. Some savvy business leaders want me to work with them as partners and keep doing what I have done all these years. 4. Question is: (4a) If I set up everything, give my time, effort and trade secrets: how much equity within the company should I ask for without looking too greedy or entitled? (There are currently 3 other people involved) (4b) Currently, the startup (an LLC) has just been formed and only has one owner - the Agent who registered the company. Should I ask for shares upfront before committing or sharing any trade secrets? What risks remain if no shares are issued to me right now? (4c) My previous boss may not appreciate me going off on my own. How do I leave without angering him too much?

4a) determine your opportunity costs and add an amount that you feel fair - what you going will be fair and reasonable.

4b) suggest a mix of shares and monthly salary before committing to anything. As for trade secrets, if you can release them bit by bit over a period of time, say 1 to 2 years.

4c) as long as you never sign any non-disclosure or non-compete agreement with your boss, there is nothing to worry about. Why you do not want to make your boss angry? Is there something or relationship matter that lead you worrying making him angry?

Anywhere, wish you good luck!


Answered 3 months ago

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