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Thanks so much John. Very useful and the link was very useful as well. I have taken this and modified it for our uses. Two quick follow-up questions.
1) Because our start-up will be based on technology we will have some volunteers that are actually building and developing code for us. So I have added a clause around invention (basically saying that anything they do for us as a volunteer belongs to us).
2) We may be in a position that we can grant stock to some of our Pro-Bono resources if they are willing to provide a certain level of Pro-Bono support over a period of time (say commit to 6 months of volunteer time). Can we grant pro-bono resources stock in exchange for them providing some stated level of support or does that push them into some strange model of employee? If it does, are there any ways that we could gift or grant stock to pro-bono volunteers?
Interesting. Thanks John. So it sounds like having the clause that covers IP creation, etc. is OK (it's fine to say that the work of volunteer accrues to the company) but adding a compensation layer make is more difficult.
Some follow up thoughts:
What if those resource, instead of being volunteers, became 1099 contractors where the compensation was paid out in stock vs. cash? Is that possible?
Is there any other construct that you could think of that might work?
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