Comments on: When To Fire a Startup Company's Founder-CEO http://startuplawyer.com/venture-capital/when-to-fire-a-startup-companys-founder-ceo Startup Law, Incorporation, Convertible Notes, Preferred Stock, Stock Options, Venture Capital Sun, 22 Jan 2012 19:35:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ali http://startuplawyer.com/venture-capital/when-to-fire-a-startup-companys-founder-ceo#comment-1859 Ali Wed, 04 Aug 2010 20:06:52 +0000 http://www.thestartuplawyer.com/?p=347#comment-1859 We are still in the idea stage, have put together a website and submitted provisional patent applications. We have not registered a company yet. We do not have clients or investors. We are a team of 3 and one person does not do much work. There is always an excuse- the kids, the dog, the mother in law. He did not contribute any money so far. If we fire him- do we need to pay him anything (we agreed on 33% ownership each)? He is of course allowed to continue working on the idea as he is on the patent, but what about the rest? Can we just keep the website name- or is it better to change that too? We are still in the idea stage, have put together a website and submitted provisional patent applications. We have not registered a company yet. We do not have clients or investors.

We are a team of 3 and one person does not do much work. There is always an excuse- the kids, the dog, the mother in law.

He did not contribute any money so far. If we fire him- do we need to pay him anything (we agreed on 33% ownership each)?

He is of course allowed to continue working on the idea as he is on the patent, but what about the rest? Can we just keep the website name- or is it better to change that too?

]]> By: Ali http://startuplawyer.com/venture-capital/when-to-fire-a-startup-companys-founder-ceo#comment-2533 Ali Wed, 04 Aug 2010 20:06:00 +0000 http://www.thestartuplawyer.com/?p=347#comment-2533 We are still in the idea stage, have put together a website and submitted provisional patent applications. We have not registered a company yet. We do not have clients or investors. We are a team of 3 and one person does not do much work. There is always an excuse- the kids, the dog, the mother in law. He did not contribute any money so far. If we fire him- do we need to pay him anything (we agreed on 33% ownership each)? He is of course allowed to continue working on the idea as he is on the patent, but what about the rest? Can we just keep the website name- or is it better to change that too? We are still in the idea stage, have put together a website and submitted provisional patent applications. We have not registered a company yet. We do not have clients or investors.

We are a team of 3 and one person does not do much work. There is always an excuse- the kids, the dog, the mother in law.

He did not contribute any money so far. If we fire him- do we need to pay him anything (we agreed on 33% ownership each)?

He is of course allowed to continue working on the idea as he is on the patent, but what about the rest? Can we just keep the website name- or is it better to change that too?

]]> By: Tyler Hawkes http://startuplawyer.com/venture-capital/when-to-fire-a-startup-companys-founder-ceo#comment-1821 Tyler Hawkes Mon, 26 Jul 2010 12:42:41 +0000 http://www.thestartuplawyer.com/?p=347#comment-1821 I like the block quote above. Caution should always be exercised in removing a founder. Think Steve Jobs. How different would the world be (or not) had he not been ousted in favor of Sculley in 1985? Ousting a founder is one of those tough early decisions that any startup will face. I like the block quote above. Caution should always be exercised in removing a founder. Think Steve Jobs. How different would the world be (or not) had he not been ousted in favor of Sculley in 1985? Ousting a founder is one of those tough early decisions that any startup will face.

]]> By: Tyler Hawkes http://startuplawyer.com/venture-capital/when-to-fire-a-startup-companys-founder-ceo#comment-2532 Tyler Hawkes Mon, 26 Jul 2010 12:42:00 +0000 http://www.thestartuplawyer.com/?p=347#comment-2532 I like the block quote above. Caution should always be exercised in removing a founder. Think Steve Jobs. How different would the world be (or not) had he not been ousted in favor of Sculley in 1985? Ousting a founder is one of those tough early decisions that any startup will face. I like the block quote above. Caution should always be exercised in removing a founder. Think Steve Jobs. How different would the world be (or not) had he not been ousted in favor of Sculley in 1985? Ousting a founder is one of those tough early decisions that any startup will face.

]]> By: Ryan Roberts http://startuplawyer.com/venture-capital/when-to-fire-a-startup-companys-founder-ceo#comment-189 Ryan Roberts Fri, 01 May 2009 11:47:00 +0000 http://www.thestartuplawyer.com/?p=347#comment-189 It depends on the board rights and other contracts you might have. Officers are typically appointed by the board and not the shareholders themselves. It depends on the board rights and other contracts you might have. Officers are typically appointed by the board and not the shareholders themselves.

]]> By: Ryan Roberts http://startuplawyer.com/venture-capital/when-to-fire-a-startup-companys-founder-ceo#comment-2531 Ryan Roberts Fri, 01 May 2009 11:47:00 +0000 http://www.thestartuplawyer.com/?p=347#comment-2531 It depends on the board rights and other contracts you might have. Officers are typically appointed by the board and not the shareholders themselves. It depends on the board rights and other contracts you might have. Officers are typically appointed by the board and not the shareholders themselves.

]]> By: Dan http://startuplawyer.com/venture-capital/when-to-fire-a-startup-companys-founder-ceo#comment-188 Dan Fri, 01 May 2009 07:47:24 +0000 http://www.thestartuplawyer.com/?p=347#comment-188 If you are the CEO and 51 % owner can you be fired or forced out by a investor, this not a publicly traded company? If you are the CEO and 51 % owner can you be fired or forced out by a investor, this not a publicly traded company?

]]> By: Dan http://startuplawyer.com/venture-capital/when-to-fire-a-startup-companys-founder-ceo#comment-2530 Dan Fri, 01 May 2009 07:47:00 +0000 http://www.thestartuplawyer.com/?p=347#comment-2530 If you are the CEO and 51 % owner can you be fired or forced out by a investor, this not a publicly traded company? If you are the CEO and 51 % owner can you be fired or forced out by a investor, this not a publicly traded company?

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