How do I terminate my co-founder?


#1

My co-founder has decided to take up a job while I continue working on the startup. So what is the best way to kick co-founder?

PS. Thank you Startups Forum for Anonymous Mode.


#2

which means to suggest there is bound to be some conflict over the IP claims.

Do you have a working agreement (digital record via emails, stamp paper agreement) on who owns what , as far as the intellectual property and other aspects of your startup is concerned.

If not, then i suggest, you wait for the months to roll by , you can pick this up with your partner at a later stage .
Unless something is signed, you dont have to worry about how your startup evolves , he / she cannot challenge you in court.

Having said that you need to be more forthcoming on details if you want assistance on the topic.


#4

I have also have a similar problem with my co-founder who was given 20% stake in my pvt ltd company. Soon after my co-founder took up employment elsewhere and does not show any interest to come on board and work full time like me at a lower level salary, that startups usually can afford. She attends board meetings and provides advises or make complaints on each and every issue so that running a board meeting becomes a big pain. We do not have a founders agreement signed as things were looking bright while the company was formed. This hardware technology company was formed on a low paid up equity capital of 1 lakhs and is run on grant money received from external agencies for the past 2 years, with no profits generated so far. Can you advice on how one can get rid of a co-founder who is not contributing full time on the startup? Is there a standard procedure to devalue the % share holding of a co-founder over a time period he/she has not been working full time for the company like the other co-founder.