Q: Can my business partner threaten me that, when I leave a company I have to pay him back 25% of his investments?
Hi,
me and my partner we’ve registered c corporation about 2 months ago.
We were developing the website for 8 months, I did the whole work, created the system, had a vision and the most of ideas. He was paying for everything and did nothing. I was working for his other company and was getting paid for both works. With time I worked less for his old company and more on our future business. Almost at the end of the development phase, we registered corporation. After a long fight(he wanted to give me 15% and that I pay a monthly fee), we end up splitting 75% for him and 25% for me. Now I’m tired of working 100% on this business and be treated me like a cheap labor. The product is ready, all we need is to get partners and vendors for our website (and that is his responsibility). I told him that I don’t want to do it like that anymore and he got mad telling me that if I leave I owe him 25% of his all costs he put in this company. We didn't sign any contracts and agreements.
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