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Dealing with my first entrepreneur legal fight: how do we emotionally handle it? (alien.top)

submitted 11 months ago by wellthatwasashock@alien.top to c/entrepreneur@indiehackers.space

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Not asking for legal advice here, more how to handle things emotionally.

Long story short, we started a joint venture with another company last year and they stiffed us on payment and walked off with the IP we built. I won't go into details, but they've got deeper pockets than us, and are trying to intimidate us into walking away.

I've got lawyers working on it, and we're taking all the steps to handle it well. But fuckingdamn if it's not an emotional load. Sleepless nights, angry days, the works.

While I'm hopeful we'll have a good outcome (we were solid about documenting everything), it looks like it'll be a long road.

I'm using it as a solid learning curve. But: How have you guys handled similar situations emotionally? Especially when it looks like it'll take another 1 - 2 years to sort out. Feels like it's taken the wind out of my sails.

[Edit: Grammar]

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[–] Additional-Sock8980@alien.top 1 points 11 months ago (2 children)

Don’t let it distract you from the mission. I’ve walked away on legal fights I’d certainly win, because no one tells you how much attention, time and opportunity cost it will take.

Lawyers alway tell you to purse it - it’s how they make their money.

If you decide to do it, put time in the diary to work on it and refuse to think about it the rest of the time. It’s mentally draining. Give the lawyers the info and let them at it.

Mostly take learnings from it now, payment always upfront or in stages, build in fail safes. JV contacts need to be solid. They probably had you in the small print. See if your lawyer can negotiate a win win settlement early without dragging it out.

Legal battles are an annoying but just part of the entrepreneurial journey, after a while they stop phasing you, but the first few really take up rental space in your mind. Unfortunately if you have success or money, people will try to take it from you.

[–] wellthatwasashock@alien.top 1 points 11 months ago

Thanks. This is good advice, and I appreciate you taking the time.

Yeah. Realizing it’s just part of the journey has been helpful. Makes the whole thing feel less devastating, and more like just another business challenge to figure out.

But man if it isn’t hard on the old ego.

Again. Thanks.

[–] straponmyjobhat@alien.top 1 points 11 months ago

This is excellent advice!