- Jurisdiction
- California
I created a new media business, thought of the name and the purpose and vision of the company, bought the urls, paid for all the legal filings, initial trademarks, secured angel funding and created the entire vision of a new company. I initially invited another person to help run the company with me but within a few months realized he has no deliverables with the exception of an introduction that led to another introduction that could result in my paying for this company's services and in turn, realizing advertising dollars that will grow over a few years. He has no agreement, no paper whatsoever from me with the exception of me paying him a total of $30k as salary believing he would add some value. He demanded I put a shareholders agmt together and do all my corp docs with my personal lawyer and I have yet to retain that lawyer because I'm not ready yet. He has now sent a threatening letter to my lawyer (who is not under retainer) that he has colluded, that my angel investors have breached their contract (they have funded late, but they do fund and he is not a signatory to the agmt,) threatened RICO and a very malicious attack.
I'm happy to pay him for an introduction but now that he has shown his true colors, I feel the relationship is irreparable.
What legal grounds does he have? What is fair? He says he is a partner and he wants 50% and threatened to blow up the entire company.
Yeah, a real dream:-/. But the truth is he has not created one iota of the business with the exception of an idea to have an event company which I was prepared to let him run for a salary and potential percentage that would be fair as my investors and I would fund that company that would be connected to my original idea. What does CA law say about 'implied partnership' if anything. Again, nothing has ever been in writing and not one agmt is in place. I did initially use him in my business plan but only for 3 months and took him out. My angel investors are 100% behind me and thought he would be an employee based upon what skills he had to potentially run the event part of the company but other than that he has no skills that help the overall company. (none). What is legal? What would a mediator say re one introduction?
Thanks very much.
I'm happy to pay him for an introduction but now that he has shown his true colors, I feel the relationship is irreparable.
What legal grounds does he have? What is fair? He says he is a partner and he wants 50% and threatened to blow up the entire company.
Yeah, a real dream:-/. But the truth is he has not created one iota of the business with the exception of an idea to have an event company which I was prepared to let him run for a salary and potential percentage that would be fair as my investors and I would fund that company that would be connected to my original idea. What does CA law say about 'implied partnership' if anything. Again, nothing has ever been in writing and not one agmt is in place. I did initially use him in my business plan but only for 3 months and took him out. My angel investors are 100% behind me and thought he would be an employee based upon what skills he had to potentially run the event part of the company but other than that he has no skills that help the overall company. (none). What is legal? What would a mediator say re one introduction?
Thanks very much.
