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> > > HOME / MANAGE / BUSINESS / RUNNING YOUR BUSINESS / Losing
Control Of Your Company: Lessons from eFront Trust There are several different companies working under these principles and while most site owners have had minor complaints about these arrangements (checks turning up late, etc), things seem to operate rather well and things are beneficial for both sides. Even large media companies such as iBoost and Internet.com have started out acquiring other sites in this way before consolidating them into their own corporate structure. All of the people who have given away total control of their sites to larger companies have had to develop a trust with them. If a large corporation who you knew to have dubious policies offered to buy your site for a pittance, would you let them? Unless you were in a truly desperate situation, you probably wouldn't, especially if you knew your site was of great value. Of course, once you've signed the documentation, you never know exactly what will happen. Leaked Documents On March 15, 2001, C|Net reported that confidential ICQ logs of eFront's executive staff had been leaked onto the Internet. Initially most believed they were fakes or made up, but as the full texts were read, this seemed unlikely. Statements made by the executives in question have also backed up their validity. But it wasn't the validity of the logs that was sparking the controversy, it was their content. In the logs two executives discussed tricking Web site owners into accepting lower payments, how to 'deal' with people who were making demands to the company, and also comments on raping a female webmaster involved with the company. Needless to say, such logs spelled immediate trouble for the CEO who was immediately besieged by hacking attempts, death threats and pressure from fellow executives to resign. Webmasters involved with the company have been quick to find ways of getting out of the contract. But if the company goes under within the next few weeks, as many believe it will, hundreds will be left without their rightful payments for the past couple of months and as eFront has barely any assets (as acknowledged by CEO, Sam Jain), a lot of people will be losing out. But the saga hasn't been for nothing. Webmasters worldwide have been reminded that having control over your business and your site can be more valuable than money or investments in most cases. Nearly all of the webmasters have ended up with stock options that, while worth a lot a year ago, are barely worth anything now. So let's look at some ways of keeping control of your company and avoiding entering a saga like eFront.
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