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

Roman Fichman Esq. Law Practice of Roman Fichman Esq.

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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