Q: If u bring every bit of knowledge for biz and partners put up the money. Ur the one with the intellectual prop right?
I built the biz and entered temp agreement with partners...they brought the money and basic computer/ phone set up and I brought all the contacts, suppliers, scripts, structure of biz myself and closed all the deals. I made the biz 37k in 3 weeks time and had to put the biz on hold because I feel they want to replace me and kick me out of the biz when I built it for them and they have been practicing illegal telemarketing without my knowledge. I have no access to the merchant and now since we signed the contracts together for my connections with suppliers and now forced my suppliers to continue to work with them and are running the biz without me. One of the partners I found out is a felon of theft and offered to do payroll. I am mtg with them tomorrow to hopefully be bought out (I had 40% ownership and they each (5) had 12%) I am wondering where I stand and if I can charge them for my intellectual property as well as my owner pay at 40%. Please help
A: The partner that contributes intellectual property to a business does not necessarily own the intellectual property. An attorney would need to review the partnership agreement to determine who owns the intellectual property. Although, business contacts, supplier relationships, and business structure are likely not protected by intellectual property rights.
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