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3 Replies Last post: Jun 5, 2008 10:03 AM by Bridge

Exit Strategy

Sep 13, 2007 12:21 PM

Techie 46 posts since
Jul 29, 2007

I am a part owner of a tech company and am thinking that it's about time to exit and collect my equity. Can anyone please advise of the best way to approach this delicate situation?

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FashionGal 32 posts since
Jul 29, 2007

1. Re: Exit Strategy Sep 16, 2007 9:46 PM

When you first formed your company did you contractually lay out parameters/restrictions/penalities for leaving the company before a certain time period? I would review those documents first so you know what is legally binding before raising this issue with any of your partners. Also, based on your user name I am guessing you are a tech company - if you leave - I assume you also are also leaving all of the company's intellectual property behind as well.

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Score133 34 posts since
Aug 14, 2007

2. Re: Exit Strategy Sep 17, 2007 5:52 PM

Hi, Techie!
If you do not have a formally-agreed-upon exit strategy, you'll want to develop one now. How? First, take stock of your responsibilities within the organization and what will become of them/who will assume them when you leave. You will also have to address how you will exit; a timeline with a reasonable transition period for everyone involved. Equity is next and hopefully it is definitively outlined in your corporate agreement. Put these issues and your expectations in preliminary format and then get a really good lawyer...this is the time when you want every angle addressed and a good lawyer can do that for you. Good luck!
Carol Wheatley

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Bridge 364 posts since
Jun 3, 2008

3. Re: Exit Strategy Jun 5, 2008 10:03 AM

Dear Techie,

If you are still considering an exit, I would be happy to talk with you. Our initial consultations are free. My company focuses of exit strategies for owners. You may want to check out some of our free video information avail on our website: www.bridgeventuresllc.com

Greg Dupuis
Bridge Ventures, LLV
Merger & Acquisition Advisors
www.bridgeventuresllc.com

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Exit Strategy

Sep 13, 2007 12:21 PM

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