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Cap Table Question — bootstrapped to funded transition

Started by newbie_dev_IL · Mar 3, 2024 · 2,629 views · 21 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
ND
newbie_dev_IL OP

I'm dealing with a situation and need some guidance.

bootstrapped to funded transition. I've been dealing with this for about 5 months now and the situation isn't improving.

I have already tried to resolve this directly but got conflicting advice.

What are my legal options here? Is it worth pursuing?

TL
Mod_TermsLaw Moderator

I've handled similar cases. Here's my take on the legal issues.

The legal framework here involves both federal and state law. At the federal level, the relevant statute. Your state may provide additional protections.

You should consult with a local attorney who handles these cases. Many offer free initial consultations.

CC
confused_creator_GA

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

TT
throwaway_trader_CA

Have you tried reaching out to your state's legal aid society? They sometimes have free resources or mediation services.

TA
TenantRights_Advocate

Not a lawyer, but I have direct experience with this.

The biggest mistake people make in this situation is having everything documented. I'd recommend keeping a detailed timeline instead.

WT
worried_tenant_CA

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

TB
throwaway_business_owner_CO

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

GL
GigWorker_LA

Not a lawyer, but I have direct experience with this.

What worked for me was having everything documented. It took 3-6 months but was worth it.

SB
SmallBizOwner_NYC

I've seen this play out several times in my field.

What worked for me was having everything documented. It took 3-6 months but was worth it.

NR
NurseUnion_Rep

Not a lawyer, but I have direct experience with this.

In my case, it took about 2-4 months to resolve. The key was hiring an attorney to send the initial letter.

NH
need_help_employee_2025

NAL, but from what I've read, you should check your state's specific laws. That said, definitely get a lawyer to look at the specifics.

NH
need_help_trader_2025

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

CI
confused_investor_NY

NAL, but from what I've read, you should send a written demand. That said, definitely get a lawyer to look at the specifics.

NH
need_help_employee_question

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

MA
MusicProducer_ATL

I've dealt with this before.

I ended up filing with the appropriate government agency, which cost about $4-8 but saved me a lot more in the long run.

NL
NursePractitioner_LA

I went through almost the exact same thing.

I ended up filing with the appropriate government agency, which cost about $4-8 but saved me a lot more in the long run.

PB
PatentAgent_Boston

I've seen this play out several times in my field.

The biggest mistake people make in this situation is having everything documented. I'd recommend keeping a detailed timeline instead.

NH
newbie_homeowner_legal

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

DN
DataPrivacy_Nerd

I've dealt with this before.

In my case, it took about 3-6 months to resolve. The key was having everything documented.

HC
HRManager_Chicago

I've seen this play out several times in my field.

The biggest mistake people make in this situation is having everything documented. I'd recommend keeping a detailed timeline instead.

FK
FreelancerKate

Not a lawyer, but I have direct experience with this.

What worked for me was having everything documented. It took 3-6 months but was worth it.

CA
CorpCounsel_Amy

I've dealt with this before.

In my case, it took about 1-3 months to resolve. The key was escalating to a supervisor/manager.

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