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Projects like that are usually made between friends and aren't really expected to become THAT big. Plus, it doesn't really matter, they took the guy out of the business and took away his rightful part of it. Good thing they settled.

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So you're the three of em just had a verbal arrangement and not a signed contract detailing company divisions?

They did, but shared the document via Snapchat.

You can read all the sordid details here:

http://www.businessinsider.com/reggie-brown-sues-snapchat-in...

"At this point, Brown and the Individual Defendants…entered into an explicit oral agreement as to their respective interests in their joint undertaking to develop the Application…That explicit agreement was that their interests in the venture would be equally distributed, i.e. each of them would have 1/3 ownership and profit interests in the joint venture/partnership."

Yeah, verbal agreements aren't worth squat. At best, you get a settlement, at worst you get nothing. I'm surprised these guys didn't sign contracts amongst themselves.

Agreed - It seems like verbal agreements are just invitations to future abuse. Humans are very good at ignoring limitations when convenient. Codifying them is the only way we keep things fair.

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