H - Case Study Example

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A. The founders of the company decided to utilize a compensation and equity split strategy based on equality among partners. There were four founding partners. The four partners were making different salaries prior to starting the venture together. They had different job positions with different levels of responsibility…
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Case H
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Download file to see previous pages Before the venture the salaries of the partners were between $55,000 and $90,000. This means that everyone on the team was going to be receiving a raise. There was no reason to fight over which person deserved more money among the partners since everyone was going to be richer in terms of salary. The decision to spit the equity equally was also the simplest way to arrange the partnership. My opinion is that the founding partners of NanoGene Technologies created a division of wealth fairly. On many instances when people are starting a business they fight too much over who deserves what even before the business venture starts to make money. The founding partners of NanoGene Technologies are all very satisfied with the arrangement. All partners where able to increase their total compensation in terms of salary and ownership in comparison with their prior jobs. The new venture will improve their quality of life because of the higher compensation and the control and self satisfaction of working in a company that you founded. B. Some people might perceived that NanoGene Technologies created a company introducing too many founding partners due to the fact the maximum amount of founding partners is typically three. This assumption is incorrect because if a larger group is satisfied splitting the money among more people it does not matter if there are more than three founding partners. The founding fathers of NanoGene Technologies are: Tompkins, Mark Masterson, Ravi Rhoota, and Gary Garfield. The founding team is composed of four scientists. This was a noble idea, but it would have been much better to have a more diversified group of professionals in the founding team. The current dilemma associated with the hiring of Paige Miller would not exist if one of the members of the founding team had an MBA. There is a huge difference between the founding members of a company and the early employees. The founding members of a company are the pioneers that had an idea which they develop into a product or service. The founders are the persons that made the original investment to start the business. Founders are also the ones that put in the original R&D time to develop a product. On many occasions the founding teams invest hundreds or even thousands of hours without receiving a penny of compensation prior to starting the business. The early employees are the people that are hired to work for a company once the operation starts. In the NanoGene case study Paige Miller if hired would be one of the early employees. Other needs such as engineers or accountants could have been met by having a more diversified group of founding partners. C. Paige Miller is an experienced professional with an expertise in the biotech industry. She is a proven winner and a person that can lead a business towards the path of success. She would be serving the role of VP of operations. Her salary demands are $175,000 and 3% of the equity. The first issue with her salary demands is that she would be making more money that the four founders of the company. Her salary would be superior to the salary of the CEO. Also her equity demands would equal the equity currently held by the founding fathers. Despite the high salary demands that Paige is asking the reality of the marketplace is that VP of operations are making upwards of $175,000 a year. Mrs. Miller is an excellent candidate and a good fit for the company. Due to the ...Download file to see next pagesRead More
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