On a side note, does anyone know how bad it is for your name and reputation if the company has to go bankrupt and go through that process? Will he get gray listed for future incorporations, background checks and such?
> On a side note, does anyone know how bad it is for your name and reputation if the company has to go bankrupt and go through that process? Will he get gray listed for future incorporations, background checks and such?
The answer is "it depends". Some folks will care while others won't. It's just like the color of his pants, his age, the school he went to, and so on.
Note that whether he can incorporate is a matter of law and bankruptcy doesn't affect it. (Being the subject of a consent decree related to securities fraud does, but lots of folks go bankrupt without that.)
I would imagine that any value he gains from this is "balls". He went out there and did his part. Bravo. Success or failure: he did something. Some will value that.
Doubtful, though I admittingly have little experience in this. In fact (I would imagine), most places would kill for guys with balls enough to file an IPO. What type of confidence do you need to make this happen?
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On a side note, does anyone know how bad it is for your name and reputation if the company has to go bankrupt and go through that process? Will he get gray listed for future incorporations, background checks and such?
> On a side note, does anyone know how bad it is for your name and reputation if the company has to go bankrupt and go through that process? Will he get gray listed for future incorporations, background checks and such?
The answer is "it depends". Some folks will care while others won't. It's just like the color of his pants, his age, the school he went to, and so on.
Note that whether he can incorporate is a matter of law and bankruptcy doesn't affect it. (Being the subject of a consent decree related to securities fraud does, but lots of folks go bankrupt without that.)
I would imagine that any value he gains from this is "balls". He went out there and did his part. Bravo. Success or failure: he did something. Some will value that.
Doubtful, though I admittingly have little experience in this. In fact (I would imagine), most places would kill for guys with balls enough to file an IPO. What type of confidence do you need to make this happen?