Usurpation of Corporate Opportunity, Quirky Question # 52
Quirky Question # 52:
I formerly was employed as an engineer of a high tech start-up company. I worked for the company for several years in a non-management role. The company struggled to complete its product (or even to get it to work properly). Because of these ongoing problems, the company had continual difficulties raising money. Nearly bankrupt, the company laid off the vast majority of its employees, including me. Not long thereafter, it went out of business.
Along with a few friends, I then started my own business. My business has nothing to do with that of the failed company where I used to work. Happily, the company that my friends and I started has had considerable success.
Much to my surprise, I recently was contacted by the former CEO of the company that fired me. He said that I “usurped” an idea that belonged to his failed firm and that he and others were considering a lawsuit against my partners and me. This seems like a shake down. Do I need to be concerned about this situation? Answer→