Legal Question in Technology Law in New York

Hello there,

I have a team of dedicated programmers/partners who I have known for a couple of years but only recently met face to face to discuss my concepts and ideas. We all signed Non-disclosure agreements but no business contracts.

My question is that I am not sure as to the relative percentages of ownership between us. The whole idea/concept and business leg work is from me. They, as of now, have had no creative input but just the technical aspect of programming.

Should we be equally split; or, as I have cultivated the concept for many years, do I have the right for a higher percentage?

With that saying, it brings me to prices and how they are structured. I would like to know how much it typically costs, to hire a laywer, for a situation like this.

I would be grateful for any assistance.

Regards

Anne


Asked on 2/26/13, 8:32 pm

1 Answer from Attorneys

The answer is not everyone should necessarily get the same equity split! The equity split should be based upon many factors such as: who were the original founders, the experience each has, domain expertise of each, any pre-existing intellectual property that each brings, who invested money in addition to sweat equity, sacrifice, risk taking, commitment to the goal and time commitment among the factors.

I am located in NY's Silicon Alley and I invite you to call me up and I'll be happy to give you some general pointer about partnerships, valuations and pitfalls at no cost.

Roman R. Fichman, Esq.

www.TheLegalist.com │ @TheLegalist

email: Info (@) TheLegalist (dot) com

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Answered on 2/26/13, 11:48 pm


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