๐๐๐น๐ฎ๐๐ ๐ ๐ฎ๐๐๐ฒ๐ฟ ๐ ๐ผ๐ฟ๐ฒ ๐ง๐ต๐ฎ๐ป ๐ฃ๐ฎ๐๐๐ถ๐ผ๐ป - ๐๐ฒ๐๐๐ผ๐ป๐ ๐๐ฟ๐ผ๐บ ๐ง๐ต๐ฒ ๐๐ฑ๐ด๐ฒ ๐ข๐ณ ๐ฆ๐๐ฎ๐ฟ๐๐๐ฝ ๐๐ฎ๐ถ๐น๐๐ฟ๐ฒ
I once worked with a startup team that was full of energy, vision, and passion.
The founders were best friends, united by their idea. They seemed unstoppable, until conflict hit.
๐ช๐ต๐ฒ๐ป ๐๐๐ฎ๐ฟ๐๐๐ฝ ๐ด๐ฟ๐ผ๐๐๐ต ๐ฝ๐ฎ๐ถ๐ป๐ ๐๐๐ฎ๐ฟ๐
Quiet disagreements over roles, equity distribution, and decision-making nearly tore the company apart.
What saved them was something far less glamorous, which some members didnโt even know about - their company bylaws.
๐ง๐ต๐ฒ ๐ฐ๐ผ๐บ๐ฝ๐ผ๐ป๐ฒ๐ป๐๐ ๐ผ๐ณ ๐ฎ ๐ฐ๐ผ๐บ๐ฝ๐ฎ๐ป๐'๐ ๐ฏ๐๐น๐ฎ๐๐
Turns out, the company already had clear rules on:
๐ญ. ๐๐ป๐๐ฒ๐ฟ๐ป๐ฎ๐น ๐ฑ๐ฒ๐ฐ๐ถ๐๐ถ๐ผ๐ป-๐บ๐ฎ๐ธ๐ถ๐ป๐ด ๐๐๐๐๐ฒ๐บ โ Who could decide what?
๐ฎ. ๐๐พ๐๐ถ๐๐ ๐๐ฝ๐น๐ถ๐๐ โ agreed upfront, not during the storm.
๐ฏ. ๐๐ถ๐๐ฝ๐๐๐ฒ ๐ฟ๐ฒ๐๐ผ๐น๐๐๐ถ๐ผ๐ป ๐ฎ๐ป๐ฑ ๐ฎ๐ฟ๐ฏ๐ถ๐๐ฟ๐ฎ๐๐ถ๐ผ๐ป โ a mechanism for moving forward.
๐ฐ. ๐ฆ๐๐ฐ๐ฐ๐ฒ๐๐๐ถ๐ผ๐ป ๐ฎ๐ป๐ฑ ๐ฒ๐
๐ถ๐๐ โ what happens if someone steps away?
๐ง๐ต๐ฒ ๐ถ๐บ๐ฝ๐ผ๐ฟ๐๐ฎ๐ป๐ฐ๐ฒ ๐ผ๐ณ ๐ฐ๐ผ๐บ๐ฝ๐ฎ๐ป๐ ๐ฏ๐๐น๐ฎ๐๐
As it turned out, the companyโs bylaws gave the founders a viable way to resolve issues without destroying their friendships or the business.
My role as a lawyer was simply to remind the team about their previously agreed-upon bylaws, and that was enough to bring them from the brink of collapse.
๐๐ฒ๐๐๐ผ๐ป
> Passion starts companies.
> Bylaws sustain them.
๐๐ฎ๐น๐น ๐๐ผ ๐ฎ๐ฐ๐๐ถ๐ผ๐ป
If youโre a founder, donโt wait for conflict to reveal whatโs missing. The Law Office of Adam Soliman can write your bylaws before you need them.
@SolimanAdam
#TheLawOfficeofAdamSoliman
******
Contact The Law Office of Adam Soliman to work with our legal experts to strategize on how to safeguard your startup.
****
Book a FREE consultation call with Adam Soliman via the link in bio.
#Startups
#Entrepreneurship
#BusinessLaw
#Leadership