Hello I'm not sure if this is the correct forum to post under but I'll post in the regular business one as well to be sure. So there is an online concept I had been thinking of for a year or two. In Feb I finally decided to move on developing it (I'm a business person not a programmer). I decided to offer a potential partnership to another guy (Jim) who was already doing my main business website in exchange for him doing this new website. So before introducing this concept to Jim I had him sign a state of Texas NDA. So I tell him what I want and how I want the site and he says he'll do it for 50% and I'm very low on $$$ so I say ok. Well one month passes, 2 months pass, 3 and he's done a bit of work and the concept is coming together. Now, he comes back to me and says "I want 55% of company and I want title of CEO or else I'm not doing anymore work on project and its going to sit dormant and you can't use anyone else because in email you agreed to let me be your partner and you agreed I could be called co-founder". In the meantime, I get approached by someone willing to put up $100k as an Angel but they want 30% of company as well and Jim says he's not going to sell any of his share and if we want the $100k I need to sell my 30% to get it.
Facts of Case are:
-I was very sloppy and stupid in doing this all
-No official LLC or company entity has been set up
-NDA signed in which he is clearly introduced to concept
-Emails back and forth between us that state we will be 50/50 partners and I will be CEO (Prior to him coming at me with new demands)
-Jim has done about 40% of the development so far on site but its not code I'm married too and it can easily be changed
I'm really desperate and I have an appointment with an attorney next Mon (but I'm actually losing sleep over this right now and worried because I feel like my carelessness has screwed over my family's security). What is the likely end scenario here if this goes to court? Would I be allowed to just move on with another developer (and him not get any percentage of company) if I can prove this guy didn't know anything about this business or concept prior to me introducing it to him? Would court force me to work with him or let project sit dormant? Any and all help is appreciated.
Facts of Case are:
-I was very sloppy and stupid in doing this all
-No official LLC or company entity has been set up
-NDA signed in which he is clearly introduced to concept
-Emails back and forth between us that state we will be 50/50 partners and I will be CEO (Prior to him coming at me with new demands)
-Jim has done about 40% of the development so far on site but its not code I'm married too and it can easily be changed
I'm really desperate and I have an appointment with an attorney next Mon (but I'm actually losing sleep over this right now and worried because I feel like my carelessness has screwed over my family's security). What is the likely end scenario here if this goes to court? Would I be allowed to just move on with another developer (and him not get any percentage of company) if I can prove this guy didn't know anything about this business or concept prior to me introducing it to him? Would court force me to work with him or let project sit dormant? Any and all help is appreciated.
