I ran across this article a month late but it’s still relevant and current. The article is headlined “5 Tech Entrepreneurship events that rocked SG in 2009.” I wanted to re-emphasize one point where the author states, with respect to the TechCrunch vs Fusion Garage dispute, “We have learned two important lessons from this whole fiasco: one, contractual agreements are necessary for a partnership; two getting investors who do not understand the tech space are (sic) a bad idea ….”
Having spoken to folks in the Singapore tech scene the TechCrunch vs Fusion Garage is indeed a wake up call to the fact that there is more to a start up than just coding. Intellectual property at the end of the day is what is being developed and if you don’t protect it, it’s pretty much worthless. Having done numerous deals with back to back agreements in place, there is still room for disagreement. What more if you don’t have agreements in place?
As for the last point, I can understand the point being made although it is an overstatement in my view. Having investors who really know technology can be debilitating if the investor tries to micromanage everything.
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