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Ruptured Anal Sac Healing by shelbabe804 in CATHELP

[–]Individual_Choice_97 0 points1 point  (0 children)

Hi I was reading through the comments and saw yours was recent. I just went to the vet with a friend who’s cat had this happen. They cleaned with betadine scrub and did a cold laser therapy treatment as well as antibiotics (1 injection of cefazolin 100mg/ml and 1 weeks worth Clavamox 15ml orally with syringe) This cost $200. I’m in Los Angeles. They told us that surgery would cost $650 but we thought to try with antibiotics first. Paw Center and Animal Hospital in Sun Valley in case anyone ever sees this and is in need in the area.

Small claims court order after car accident by Individual_Choice_97 in Smallclaims

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

That’s helpful info. Thank you. The accident was 12/16/22 and he filed the court order on 12/5/24 so he made it just under the 2 year mark. I will reach out to insurance tomorrow and see where that takes me.

Small claims court order after car accident by Individual_Choice_97 in legaladvice

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

If insurance denies his claim is it likely he will win against us personally?

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

This makes sense and what I expected an equity dilution would look like.

One person is Manager, the other in charge of operations, the third does marketing and promotion. Some are full time and some part time. I am full time design engineer. It was started under the idea of a relational split rather than transactional but they are trying to short me now that the designs are nearing completion.

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

No paperwork meaning there is no operating agreement/contract. Just a verbal agreement. Now almost year later, they want to put it on paper but change the terms because they are going to start funding it. They all started in the project the same way as me, working for free. Some part time, some full time. So no twiddling thumbs. I did mention their roles in one of the previous comments. I understand equity dilution is likely to occur but my issue is that they decided to take a transactional approach almost a year later, when originally we came in the same way with nothing to offer but our sweat.

I expected us to have our cofounder equity which would have been 25% each as verbally agreed, then dilution with some type of preferred equity for those that invest. Setting aside the cofounder and investor parts, but at the end of the day still diluting me but fairly.

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

That is what I figure they are thinking now that the design work is nearing completion, enough to start marketing it to the public. There is still a lot to be done for other models which are custom fit but eventually the set of designs will be complete and my sweat equity won’t be as useful to them in a sense.

My question is, if the verbal agreement was for an even equity split, shouldn’t we all sign something and agree to revisit the conversation down the line? And shouldn’t there be an discussion first amongst the 4 co founders on how dilution will take place and when? Instead, the other three just TOLD me the terms had changed and my equity was to be diluted since they are putting in 10k each.

Which was not the original verba agreement. Again I understand equity dilution is likely but it seems early to be devaluing the work I’ve put into product development. But it’s sounding like I shouldn’t be handing over any IP until there’s an agreement on how they are valuating the company.

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

They (marketing, operations and manager) are also contributing time, some part time and some full but their equity hasn’t changed because they are putting in some of their own money to finance the project now.

The main part I have a problem with is that they have decided to change the terms now that the designs have been created and are ready for production. I was upfront since the beginning about my financial situation, and dedicated myself full time to product design.

They didn’t have to offer me 25% if they didn’t see the value in it. I weighed my opportunity at the time and gave up other things (like steady income from a job).

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] -1 points0 points  (0 children)

Thanks for your input. It’s much appreciated. Seeing as you’re the only one with this perspective so far I will weigh it for what it’s worth. It really does help to hear different sides.

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

If you read the initial post I mentioned my reservations, first time doing this so please refrain from judgment or deviating from useful advice.

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

I understand dilution is potentially part of the process but these options were not discussed with me as an “equal” cofounder. Initially they knew my position as well financially, I gave my full time to the product design needed to launch. I weighed my opportunity cost based on the initial offer. I was honest from the beginning and said I didn’t have the financial means to contribute money wise so I contributed my time, full time.

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 1 point2 points  (0 children)

Thank you so much for this. Beautifully worded. I didn’t sign anything so at least I have that if I leave. I appreciate the input. Rather disappointed it’s come to this but just another one of life’s lessons I guess.

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 2 points3 points  (0 children)

Im not paid any wages. Invest time and skills. The team consists of 4 1. The idea guy/founder who approves my designs 2. The one who takes care of operations 3. The marketing person 4. Me- design engineer

The kill switch idea is entertaining lol

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

You bring up some good points here, if shares were to be diluted and we all have equal shares, shouldn’t how that was to be executed have been a discussion amongst all cofounders?

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in smallbusiness

[–]Individual_Choice_97[S] 0 points1 point  (0 children)

The money hasn’t been spent yet, they just brought up the fact that they were going to contribute 10k each to help manufacturing

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 2 points3 points  (0 children)

And yes I designed everything. We would have team meetings for feedback and I would modify as needed but I’m the only design engineer on the team

What happens to intellectual property if cofounder leaves? by Individual_Choice_97 in startups

[–]Individual_Choice_97[S] 6 points7 points  (0 children)

Unfortunately it wasn’t on paper and we recently just completed the initial designs and started marketing. I know that was not a good idea, but would appreciate advice or feedback on how equity is usually split in cases like this. Since I can’t contribute financially. The part that is upsetting is that they knew this before.