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May 6, 2015
4:27
:09
pm
PlanoCougar
This appears to be different.
A firm taking equity is one thing. Here, an attorney (apparently a partner) is personally taking an equity stake. Highly unusual.
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PlanoCougar
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Gavin
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PlanoCougar
Joined
Jun 20, 2003
Last login
Sep 23, 2015
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Messages
Author
Time
Start-Up Question - General Counsel
rommeliv
5/6/15 1:59pm
Run! Those are terrible terms! I will BM you.
preneur
5/6/15 2:04pm
I was thinking the same thing, just wanted to confirm my gut feeling was correct
rommeliv
5/6/15 2:08pm
There are a few problems I'd have . . . but the biggest issue . . .
PlanoCougar
5/6/15 2:09pm
Yup, no way I'd give equity to a law firm. If he want's to get shares, he needs
workindev
5/6/15 2:15pm
Agreed. Plus, it potentially creates a conflict of interest . . .
PlanoCougar
5/6/15 2:20pm
Run away, that sounds awful. When I launched my startup, we gave up no equity
workindev
5/6/15 2:14pm
There was no upside for the law firm, no future benefit? Nothing?
Acorn
5/6/15 3:08pm
Marketing Expense
preneur
5/6/15 3:13pm
My friend worked for Wilson Sonsini and received equity all of the time
Acorn
5/6/15 3:24pm
This appears to be different.
PlanoCougar
5/6/15 4:27pm
WGSR was the firm we used. They didn't get any equity.
workindev
5/6/15 4:33pm
We took offers from several law firms. None of them took any equity, and several
workindev
5/6/15 4:33pm
i would not do business with him.
roseyscenario
5/6/15 7:27pm
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