Audio By Carbonatix
By Sarah E. Needleman
When starting a business these days, it may be wise to document the role played by everyone who helped you get it off the ground. Should your company become a raging success, chances are some of those folks will try to seize a piece of your fortune in court.
Perhaps Facebook co-founder Mark Zuckerberg wishes he’d done this. Cameron and Tyler Winklevoss sued him, resulting in a 2008 settlement costing him $20 million in cash and $45 million in Facebook stock. Recently, the twins tried but failed to back out of the settlement, claiming they were duped about the valuation of Facebook. (Read “Winklevoss Twins Can’t Back Out of Deal on Facebook, Judge Says.”)
And on Monday, an amended complaint was filed against Mark Zuckerberg from a New York man who last year said he was entitled to a large stake of Facebook. The complaint includes excerpts of emails between the plaintiff Paul Ceglia and Mr. Zuckerberg. (Read “Ceglia Presses Facebook Case, Adds Emails.”
Of course, keeping track of the relationships you have with friends, family, classmates or anyone else who may be willing to lend you a hand while you build a business would likely be difficult. Entrepreneurs have a lot on their plates, plus copious recordkeeping could prevent those relationships from being of much value.
But given the potential consequences, being able to prove you were truly the brains behind what may one day become a booming enterprise could end up worthwhile.
Readers, should entrepreneurs document their relationships with the people that help them get their companies off the ground? Or is their time and energy better spent just on growing their businesses?
Source: Wal Street Journal
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Today’s Front pages : Tuesday, December 19, 2025
1 minute -
Why you should not miss Joy FM’s 2025 Family Party in the Park
26 minutes -
NSA boss Ruth Dela Seddoh vows to end ghost names, save public funds
32 minutes -
Government secures 40,000 acres in Yeji for Agro-Industrial Expansion
1 hour -
Election security team engages NPP ahead of January 2026 presidential primaries
1 hour -
Jail corrupt officials in galamsey fight – Haruna Iddrisu to Judiciary
1 hour -
Walewale MP dismisses forest mining ban as a superficial response to galamsey
2 hours -
Government targets 2026 restart for Komenda Sugar Factory
2 hours -
Chiefs must be central to galamsey fight – National House of Chiefs President
2 hours -
Over 1.3m youth outside jobs and school as GSS flags deepening employment gaps
2 hours -
Youth joblessness a security risk as 1.3m remain idle – Opare Addo
2 hours -
You can’t levy athletes to Fund Sports Bill – Former Sports Minister
2 hours -
Adu-Boahene trial: Testimony of prosecution witness favouring our defence – Atta Akyea
2 hours -
Attorney-General lauds EOCO’s Executive Director
2 hours -
Eastern Regional FDA undertakes operation against unregistered baby diapers
2 hours
