{ "media_type": "text", "post_content": "Has anyone received equity as contingency comp? I have a potential client with a founders dispute. He doesn’t have cash, and the other founder ripped him off and is now running the company. He wants to sue for equity and wants to pay me with whatever equity he wins. I’ve never done a deal like that. Is that even enforceable? CA law. The startup is actually quite promising.", "post_id": "6103ab8158626f002128c21b", "reply_count": 5, "vote_count": 1, "bowl_id": "5de71b89e674d9001a783fb1", "bowl_name": "Small Law / Solos" }

Has anyone received equity as contingency comp? I have a potential client with a founders dispute. He doesn’t have cash, and the other founder ripped him off and is now running the company. He wants to sue for equity and wants to pay me with whatever equity he wins. I’ve never done a deal like that. Is that even enforceable? CA law. The startup is actually quite promising.

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State law governs whether firms can accept securities/stock in a corporation they represent as payment with some restrictions. Check your local state rules, I know New York and California allow it. Idk what state you are in. One thing to keep in mind is the fee cannot be "excessive" so if your state does allow equity make sure you close sooner rather than later. Good luck!

Thanks! Yeah I know it’s permitted generally, but I was more concerned with the logistics, since my client is not the corporation but a founder trying to get his equity back. Could he pledge his potential equity to me? Would the corp have to honor that in a settlement?

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Curious, I know there’s some firms who do this regularly. I believe something in NYC called D&k not sure the full name

one thing you should realize is that if there is a founder dispute there isn’t a reasonable EV for compensation

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