Need a business lawyer for a problem with a startup
$100-200 USD
Completato
Pubblicato circa 2 anni fa
$100-200 USD
Pagato al completamento
We are a 2 years old LLC startup based in Dubai. 6 months ago we have been approached by a much larger company based in the UK, that had a strong interest in acquiring our company.
They have explained that are in a hurry of concluding the acquisition in 2 months, we have provided all the requested information, and after showing a proof of concept and asking all their questions, they have selected our company among many others.
For the 4 sub-sequent months, they have required more and more support and time, asking us to integrate our software with their software for free (at our cost), to provide the service to 5 of their customers as a proof that our software works.
All the steps were successful, and at the very end they have shared with us a Letter of Intent, and we have been required to share even more internal and private info, including providing our software code. We have shared all the info, but we refused to share our code. As a result, the company communicate to us that they would not proceed with the acquisition, because they were not happy with the IT due diligence, especially because the software code was not shared.
We have explained that we are ok to share the code with a professional third party, but the company was not happy with that.
We have invested 6 months of work, and we have asked the company to pay 123,000 USD for the time invested, not even considering the damage caused. Because we invested all the time with them and not with any other company.
We would like to know if there are legal grounds to sue the company and ask for the repayment of the time spent, as we believe that the entire process was done with the sole purpose of stealing our information and intellectual property.