Re: sweat-equity

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 <miked@dewhirst.com.au
>> <mailto:miked@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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>>
>>
>> --
>> Marcin Tustin
>> Tel: 07773 787 105
>>
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