I work for a start-up (software company) that's starting the first-
round funding search. We employ a valuable IT technician, as a
contractor, who happens to have a felony dui conviction. (All of us
are under contract - we'll roll over to full-time employees once
there's a "company". (funding))
Management is telling us that this person cannot be an employee once
we have funding since the person's background will not survive the due-
diligence/background check that's certain to be conducted. Others
cite the general requirements of a (non-existent) VC contract.
My questions are simple:
Are the management statements accurate?
Does the due-diligence phase actually extend to individual background
checks and would funding be in jeopardy because of a felony (property
damage) dui conviction?
As contractors, why would we be subjected to a background screening,
if there is one?
We're a small start-up -- there's only six of us -- if there is a
background, what's being checked?
Finally, is a "no felony" clause a standard practice for first-round
funding contracts?
Thank you....
--Mike
If you reply privately or have questions, please send your response
to: mikeshallop@[EMAIL PROTECTED]
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