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VC Deal Negotiation — co-founder leaving before cliff

Started by just_curious_business_owner_GA · Jun 24, 2024 · 2,428 views · 13 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
JC
just_curious_business_owner_GA OP

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

co-founder leaving before cliff. I've been dealing with this for about 12 months now and the situation isn't improving.

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

Am I overthinking this or is this a real legal issue worth pursuing?

NH
need_help_creator_CO

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.

TL
Mod_TermsLaw Moderator

I practice in this area. 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.

The practical consideration here is cost vs. potential recovery. For disputes under $10K, small claims court is often the best route.

SA
seeking_advice_creator_2024

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.

SM
SeniorDevMike_PDX

I went through almost the exact same thing.

The biggest mistake people make in this situation is filing with the appropriate government agency. I'd recommend gathering evidence first instead.

AF
asking_for_friend_worker_IL

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.

NH
need_help_employee_IL

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.

AF
asking_for_friend_driver_2026

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

DN
DataPrivacy_Nerd

I've dealt with this before.

I ended up escalating to a supervisor/manager, which cost about $1-3 but saved me a lot more in the long run.

FP
frustrated_parent_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.

SA
seeking_advice_parent_NC

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.

FT
first_time_driver_advice

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

DF
desperate_freelancer_NY

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.

CB
confused_business_owner_IL

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

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