Tech – Mental Health

Tech - Mental Health

Our client, a co-founder of a mental health tech platform, was in a dispute with the other co-founder in relation to the way the shares would vest. Their understanding of the vesting schedule was very different probably due to the lack of professionally drafted legal documentation early on.
Our client had developed the code for the platform, which was essentially the product. However, the other co-founder had the contacts. Their disagreement centred around the point of time that my client’s shares would start vesting – was it as soon as the code was delivered or when he quit his other job and joined the start-up as CTO?
Due to the bad drafting of the original document it was not clear and both parties went into fighting mode. Our client came to us of help and through some common sense negotiating we managed to reach an agreement that saw him getting 4 times as many shares as he had initially been offered. With that behind them, the company went back to what they did best and grew to an operational break-even by year 2!