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Going to summon this thread because I could use the advice. A while back I created and built a web application as a way to solve a problem I was having. It's not my primary business and I didn't build it to make money necessarily, but instead my goal was for it to pay for itself each month (it does) and make something that people like (they really do). Anyway, a company contacted me last week about buying either my company or site and app outright. They wouldn't keep the app as it is today, but instead want to take the tech behind it and integrate it into something they're building. I spoke with them for a while, did my research on their staff/founders and feel like they'd be a good choice to take over what I've built. However, I have a feeling that they're more interested in buying my company outright and then having me wedge my app into their new product, which I wouldn't want to do. Side note: I am being vague because this is the internet after all. Anyway, my question is how do I even begin to work something out with these guys? I have no interest in selling my small company (we do BI stuff, totally unrelated) but would be open to selling the app. Has anyone else ever successfully sold off a side project?
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May 7, 2012 20:11
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Konstantin posted:My guess is that the company is gunning for you more than your app. If you're not interested in working for the company you need to make this absolutely clear. Be sure to add that you will also not accept any arrangement where you're a 'consultant' or have any obligation whatsoever after the sale is completed. My guess is that they will walk away after that, but if they're still interested there are ways to close the deal. You could give them a perpetual exclusive license to the software and source code, or you could start a wholly owned subsidiary, give it the IP, then sell that, or do it in several other ways depending on what they prefer and how much they want to spend on lawyers. Thanks, and I was just going to post an update. You're absolutely correct, they wanted to buy "me" and the app along with it. I said no, they asked if I would then be their dev person for this piece, said no and haven't heard back.
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May 9, 2012 19:10
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