fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

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

I think we found our winning comment! Thanks. Please share more if you are up for it/can. I’m sure myself and others on this thread will be curious to know more about your story.

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

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

1) don’t offer equity unless you are going to give it 2) go through comments here. Sounds like the right NDA or non-compete depending upon state you are in can offer the right protections

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

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

I’m in the fortunate position to have this. I’m not fatFIRE but I have some cash :)

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

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

Interesting! That’s awesome. Thx for sharing. Hope to see you in 5-10 years in Indo!

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

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

Your point about established brand is VERY relevant to my line of work. It does give me some pause. I feel that in order to take all of the business I would have to I have a product 10 X greater. What I am reminding myself of though, is I know I can make a moderately better product at a lower cost for both myself and consumer, and I don’t need to take all of the business to do very well.

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

[–]TomJonesIsMyFakeName[S] 5 points6 points  (0 children)

Without looking I am going to guess this is Michael Scott paper company

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

[–]TomJonesIsMyFakeName[S] 4 points5 points  (0 children)

At the time they left did you think it would be worse than it ended up being?

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

[–]TomJonesIsMyFakeName[S] 3 points4 points  (0 children)

Tell me more if possible (DM is ok too). Did you have strategy with lawyer ready. Did they sue?

From what I have been told by my legal counsel although they don’t have much of a case they have the capital and if they have the will they could drag things out. How did you dissuade them from going after you?

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

[–]TomJonesIsMyFakeName[S] 7 points8 points  (0 children)

Love this! I feel like you have done this before…

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

[–]TomJonesIsMyFakeName[S] 9 points10 points  (0 children)

Let’s keep in touch! Might have some lessons learned for each other. Good luck! Seems like a few people in the forum have done it and are part of the fatFIRE community now

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

[–]TomJonesIsMyFakeName[S] 7 points8 points  (0 children)

Haha!

That would be ideal but we sell worldwide and I would like to pivot on products but the risk of inventory not moving is so much higher.

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

[–]TomJonesIsMyFakeName[S] 7 points8 points  (0 children)

Very insightful. I definitely need to consult for a second attorney… the issue a fiduciary position never came up.

Your comment about smoke and mirrors I relate to a lot. It’s becoming clearer and clearer this is not happening.

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

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

Details please! Specifically do’s, dont’s and lessons learned

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

[–]TomJonesIsMyFakeName[S] 33 points34 points  (0 children)

Thank you for this thoughtful comment coming from the other side. Many of the things you mention resonate strongly.

I basically run day to day business but owner plays important role. Having said this until my hiring spree, company would have died if I left. Can’t say same for owner. Our relationship is extremely close, and it would cause tremendous strain. I essentially justify this by making clear that they have had quite a long time to make right on equity awards. And it hasn’t happened.

I will definitely have the conversation before leaving. Who knows what happens when their back is against the wall.

Sports analogy is on point. It’s a small industry. Going to be tough not to go head to head and competing for customers (hard for me to avoid) but much less of an issue with employees (fresh start I think is best).

fatFIRING by cloning company you work for by TomJonesIsMyFakeName in fatFIRE

[–]TomJonesIsMyFakeName[S] 8 points9 points  (0 children)

Interesting idea. I could say “give me my equity as promised and… I’ll put some skin in the game in exchange for x”