IT Startup Partnership Issue
3 years ago
I was to setup a new IT startup where I was initially considering a friend of mine as my partner, due to the reason that he will support me with few friends of his who will be doing some technical work for me and accept payment in later stages and the funding will be through crowd funding. later, neither the funding was possible nor received support from the friends of his. Had sent queries to investors mentioning him as my partner, adding our gmail ids into the form. The app idea was discussed with him during initial times and points of discussion were jotted down in his laptop i.e., app features, app name and company name. I was responsible for the complete front end design and development.
He is not from any technical background. But I had been running a msme registered IT startup making mobile games, which went into losses and hence thought of making the app under a new brand.
Now, due to some personal traits of his and the reason that he cannot contribute anything towards the company, have decided to start the startup by myself.
Now, I'm planning to setup the company with my own investment and develop and release the app. Is there a possibility for him to raise any legal issues in future after me setting up the company?
There is no Legal agreement made. The company is yet to be registered.
Ayantika Mondal @ Prime Legal
Responded 3 years ago
Since there has been no agreement you and your friends there seems to be no hinderance. However, if any of his idea is used he might claim that you have stole his idea. If you find this helpful do rate us.
Since there has been no agreement you and your friends there seems to be no hinderance. However, if any of his idea is used he might claim that you have stole his idea. If you find this helpful do rate us.