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by michael_dorfman
5776 days ago
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Lawyer up. Acquisitions can be hairy. My first startup was acquired in a semi-hostile takeover; I'm not able to discuss the details, but I can say that a lawyer (and a trusted advisor-- not necessarily the same person) would be a good thing for you right about now. Beyond that, I'd think about the bullet points of what it is you are after. 6 digits cash up front is nice, but what else are you looking for? In the absence of better legal advice, I'd suggest that you definitely want a job contract with a guaranteed sum-- say, 1 year's salary. (If things don't work out, they'll fire you, and you'll be without pay, otherwise.) If it were me, I'd let them see the full source code as part of a "due diligence", after an initial contract is signed; make sure the "due diligence" has a fixed timeframe, and that there is a penalty for them breaking the deal between the signing and the completion. |
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