Marcin
Some changes to increase coherence and a new Project Bootstrap page to
prompt incorporation of the project.
https://github.com/mdewhirst/sweat-equity/wiki/_pages
I will take it to my lawyer before starting and I'll post the changes then.
Thanks Marcin
Mike
On 15/05/2012 10:41pm, Mike Dewhirst wrote:
On 15/05/2012 6:23pm, Marcin Tustin wrote:
You will want to have a lawyer advise you on your agreements.
Although your drafting is pretty tight, it could be a bit tighter,
I'd like to strike a decent balance. My own lawyer is a tad aggressive
and to be honest I wouldn't sign anything he wrote. He makes you feel
like you are putting on manacles. He is brilliant at licensing but
must be worried about people finding loopholes in his contracts.
My approach is different. I want an equity agreement which assumes
good intentions and delivers a valuable partnership. In the end I want
golden handcuffs not manacles.
and there are certain legal issues that arise, such as how a
"project" can own anything (such as copyrights).
You are correct. This came from my own situation where currently my
company "owns" the project. However, I can't expect anyone to invest
in my company when the project is the real focus. In due course I
expect to incorporate a new company which in effect will be the
project. This is probably common enough to need addressing. I will
develop and include a clause which makes that clear.
You'll likely want a jurisdiction and choice-of-law clause as well.
Right again. I need that for my own agreement so I'll add one.
Thanks Marcin
Mike
On Tue, May 15, 2012 at 1:40 AM, Mike Dewhirst <mi...@dewhirst.com.au
<mailto:mi...@dewhirst.com.au>> wrote:
This is off-topic except for people starting un(der)-funded Django
projects.
I have written some guidelines for stakeholders and developers
plus an equity-in-lieu-of-salary agreement.
The guidelines come from my own experience in projects. Apologies
to Scrum and eXtreme purists but I need to start easy.
https://github.com/mdewhirst/sweat-equity/wiki/_pages
I would really appreciate some constructive criticism, suggestions
etc before I try and use it for real.
You may find it useful for your own project. The idea is that a
venture capitalist will be more confident to invest if you have a
dev team locked in and the project is already kicking goals.
Thanks for any feedback.
Mike
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