Ask HN: Co-founder split, company not yet incorporated
1. Did not feel that equity should be split equally. 2. His personal vision did not align with what was good for the company(he said this himself). 3. He had issues with me "calling shots". We've known each other for more than a decade. This has nothing to do with the decisions that were taken, but more of a first among equals conundrum.
We were in the middle of incorporating a Pvt Ltd. So I am not legally protected. The other 2 co-founders have decided to move on. They are finding this financially taxing and want to pursue higher studies. Everyone except me is fresh out of college, I have one years experience (at a startup where we crowdfunded open source hardware).
My Contrib Software (API, smartwatch app, etc.) as well as building the website (static). Inputs on the hardware design from my end, but no commits to the repo. Outreach :Setting up meetings with investors, bringing technical mentors onboard
I have spent roughly 50% of total expense.
The co-founder who has decided to split wants to work on the idea by himself and wants the other 3 of us out. He has said he is willing to compensate us for our expenses, and pay some remuneration for the effort put in.
1. How do I get a clean break from this ? This is more in an emotional context than anything else. I've documented and shared quite a few ideas about this particular project, and I feel quite close to it. 2. How should I calculate my remuneration after expenses ? Should this be calculated based on my salary at previous employer or something similar ? 3. Assuming I continue to work on this idea alone or with some of the other co-founders, what are the legal hassles involved ? Who gets to own what ? Is it even worth the effort, considering the fact that investors are wary about such a history.