Brian P. asked
I started a company alone and invited a software engineer friend to join me, offering him a $60K annual salary and 25% equity. We created an agreement stating his commitment to 84 hours per week, but it was never signed and the company was not legally incorporated. After two months, he resigned, and since then, I've renovated almost every facet of the business. I'm concerned he might claim his 25% equity if the company becomes successful. Am I safe, and does he have any legal ability to claim the equity?
May 23rd, 2023
Thomas A. answered
The lack of a signed agreement means there is no enforceable contract. While there might be a potent...
May 23rd, 2023
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