My partner and I started an online service. When we formed the idea for the company, we came out strong with a lot of energy, but it seems as if my partner's priorities are now elsewhere.
I'm the only one networking and developing the website. I'm in contact with all of our business contacts and he simply doesn't bring anything to the table.
My decision is to not continue working with my partner, but I still want to develop our idea that I've been working on.
Our company is in the seed stage. We spent 6000 to have the website designed about a year and a half ago. We have not drafted a legal partnership agreement between us. No patents have been issued for our online service. I am about to contact lawyers to draft our legal documents and get the company legally started.
So my question is, how do I leave my partner while continuing to work on this idea? I see three options:
- Buy him out. Our only asset is our website which we paid 6000 for.
- Leave the company and start the same one under a new name. Is this legal?
- Ideal situation: he agrees to leave the company
Please let me know what your thoughts are on how I should proceed and what he's entitled to.
Thanks for all your help