Thinking about the worst case scenario here.
Let's say I accepted 50K in the form of convertible notes from an early investor. What happens when the startup fails? Are the founders now on hook to pay the debt from their pockets?
The note is executed by the corporation. If the corporation fails and there’s assets, the holder of the not can go after the assets. The employees are not liable unless they did something illegal.
It depends on the terms. Usually the only security is the assets of the firm, but individual notes have different security clauses. If you somehow have signed a note that includes a personal guarantee, then you will be held liable.
When you think about the future of any thing you get nervous which is bad . You should be ready and anxious to try it what if it turn great that will be a very good thing right but with this thought it means you can fail easily so instead be positive about it you will see transformations
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