Q: Can I let go of partners from a start up if operating agrmnt isnt in place?
I put the team together in October, came up with the idea, we all signed NDAs, but now they are asking more equity than id like to give. They signed non-competes, can I choose to not work with them? Will they have any grounds to claim the company. Currently while the LLC is being approved at the state, I am the only listed owner. We were going to sign an operating agreement splitting equity as agreed, but then one partner wants to take more, and I do not agree with him. I also found better replacements for the other partner. Am I bound to working with them through NDAs and Non-competes?
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