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SAFE Note Question — Series A term sheet review

Started by worried_tenant_NY · Apr 4, 2024 · 1,746 views · 3 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
WT
worried_tenant_NY OP

I've been trying to resolve this on my own but I'm stuck.

Series A term sheet review. I've been dealing with this for about 11 months now and the situation isn't improving.

I have already consulted briefly with a lawyer but did not get a clear answer.

What are the risks if I pursue this? What's the likely timeline?

PN
Photographer_NYC

I've dealt with this before.

I ended up hiring an attorney to send the initial letter, which cost about $2-4 but saved me a lot more in the long run.

NC
newbie_creator_advice

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.

TL
Mod_TermsLaw Moderator

Licensed attorney — a few thoughts. Here's my take on the legal issues.

The key question is whether the applicable statute of limitations has run. Depending on your jurisdiction, you typically have the relevant statute years for this type of claim.

I'd recommend documenting everything in writing from this point forward. Keep copies of all communications.

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