Comment by Ancalagon
1 day ago
I actually don't know if there's much that can be done unless there's some non-competes in those employees' contracts which are usually not very enforceable outside of finance iirc.
1 day ago
I actually don't know if there's much that can be done unless there's some non-competes in those employees' contracts which are usually not very enforceable outside of finance iirc.
Non competes aren’t enforceable in California but the company owns the IP so I’m curious about this license loophole they are using.
Non competes can definitely be enforceable in California for executives and those with fiduciary responsibilities to a company.
They’re just not enforceable against “rank and file” employees.
The only situation I know of is during a sale of business if the seller agrees. Which is clearly not the case here.
The real IP is between the ears...
Is there any IP that's actually valuable without the team ? I sincerely doubt it.
The whole point of funding a company is for the company to build IP that makes the company valuable. Founders can't take investor money and then just go start another company -- that's specifically barred in most docs. There have been a lot of these weird "loopholes" lately that are completely against the spirit of company building.