Looking for advice on a legal issue. Here's what happened.
VC demanding 2x liquidation preference. I've been dealing with this for about 9 weeks now and the situation isn't improving.
I have already tried to resolve this directly but the other party is not cooperating.
What are my legal options here? Is it worth pursuing?
Been there. Here's what I learned.
A lot of people mess up by is escalating to a supervisor/manager. I'd recommend following the formal complaint procedure instead.
Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.
I went with Delaware for the legal protections. Worth considering even for small businesses.
This is exactly why I started documenting everything from day one.
Have you considered the tax implications of different entity types?