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

submitted 2 years 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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[–] straponmyjobhat@alien.top 1 points 2 years ago (1 children)

I feel you on this. I got really emotionally burned like this twice in my career. Now:

I am extremely careful not get myself in these situations. That means being through in communication and maintaining control of IP until both sides are happy.
I put a high price tag on my mental wellbeing and realize that a legal fight costs me a lot of pain with lost sleep and stress. That's worth half my salary at least.

Always remember that lawyers WANT you to fight because that's how they make money. They are incentivized to aim as high as possible for you. They win either way, but will win more the more you fight.

Most lawyers won't account for the cost to your mental state that a fight tolls. Sometimes that's worth much more than the money you'd win, especially when you subtract their bills.

Don't fall into this legal battle trap. Focus on your business and work on things that make you happy. Learn your lesson and move on.

You were brilliant enough to create something great before. You'll do it again.

[–] wellthatwasashock@alien.top 1 points 2 years ago

I appreciate it, and the whole lawyer thing is something I’ve very much been learning. They like the concept of shooting for the moon. It’s too bad, would love to find some legal teams that didn’t think like that, but it is their job.

And to your numbered points: yuuuup. I’m absolutely nailing down our contracts and procedures, and being much more skeptical about who we work with.

And genuinely: thanks for taking the time, and the kind words at the end there. I appreciate it.