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UHi everyone,
I need help navigating a tricky situation.
Last month, I attended a fintech networking event to discuss my startup idea (still in the idea stage). There, I connected with someone I’ll call “Manish” (name changed), who has over a decade of experience in fintech. He seemed interested in my ideas and invited me to visit his office.
I visited him recently, and after a long 5-hour discussion, he offered me the position of COO in his company with a promise of 10% equity if I achieved certain targets. As a recent graduate, I was excited and accepted the offer. He also shared some product details with me via a WhatsApp PDF and gave me a co-branded prepaid card, which I didn’t think much of at the time.
After discussing this with my parents, they raised concerns, pointing out how unusual it was for someone with no work experience to receive such a significant offer. I started having doubts, and after some thought, I decided the role wasn’t for me. I also received a job offer from a Hyderabad-based pharmaceutical startup for an IT position, which is completely unrelated to fintech.
When I informed Manish about my decision, he got angry and accused me of stealing his idea. He’s now demanding I:
1. Sign an NDA retroactively.
2. Personally return the co-branded prepaid card.
3. Comply, or he’ll file a police complaint.
I consulted a lawyer, who advised me not to sign any documents and suggested couriering the prepaid card instead of meeting him in person.
To clarify:
I never signed an NDA or contract.
I haven’t used or shared any information from the PDF he sent.
My new job is unrelated to fintech.
I’m scared because Manish has political connections, and I don’t want this situation to escalate.
What should I do? Should I follow my lawyer’s advice and courier the card, or is there anything else I should be doing to protect myself legally?
Any advice or guidance would mean a lot.
Thank you in advance!
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UNot a lawyer, but legally he can’t claim that you stole his idea of whatever. He shared his idea and information without getting into an agreement or nda with you, so you do not have any obligation of agreeing to anything including signing of an NDA now. Send the sim card via courier as suggested.
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PIt’s his fault to share details without a NDA. It’s your right to decline the offer.
Return the card, as it’s not your. If you are uncomfortable with returning it in person, then ask someone to return it.
It’s upto you if you want to sign a NDA, do read it in detail before you sign it. Will avoid harassment if you sign it. Read it detail if it curtails any of your rights.
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VLawyer here.
Just for the advice you have received.
Ideas have no protection under law. Only copyright/patents do.
Also, if signing a NDS gives him comfort and if you are not going to use any information they have shared. You could sign the NDA.
Not a legal compulsion but just an act to reassure him that you are ok to be bound by confidentiality.
In my 10 years of practice I have not seen a single suit being filled for breach of confidentiality and I have worked in the pharmaceutical and healthcare industry.
Also, courier the company assets through registered courier so you get an acknowledgement of delivery.
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UThanks for the advice! But shouldn’t NDAs be signed before sharing info, not after? My parents are against me signing anything. And yeah, we’ll send the company’s stuff via registered courier.
But even with registered mail, your address will be visible, and I’d prefer to keep it private.y. I don’t want that guy to know my address. Mom said she’d ship it from her office, using her government office address and take the acknowledgement of delivery. Is this acceptable?
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VIdeally, yea.
But retrospective effect could be given to any document. Meaning it could have a backdated effect.
Again. Not legally required. Just to give comfort.
You merely need to have a document to show that the asset were delivered to the registered office address.
Could be hand delivered or through courier or by any other means you deem fit.
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