California | Business Law
Legal Question
we co-invented an idea, now we might break up...
My partner and I came up with a good idea months ago. We wrote down this idea in a notebook and each gave signature. Subsequently we formed a co-partership company. I am in charge technical area and is working on a patent application(just started and not filed yet). My business partner is in charge of looking for funding, but he performed very poorly.
There's a chance that we might break up. I am thinking about finding a new partner and forming a new C-corporation. I will allow my current partner to have some shares in this new company, say 10%.
However, I worry about these issues:
1. My partner is not satisfied with 10%; he implied that he want equal number of shares as I do(thought I have to work hard and he doesn't even need to work).
2. I haven't filed the patent yet. If I only write my name on the patent application, will there be any problem? I am the only one to write this patent(detail implementation of the idea), and my partner doesn't even understand engineering implementations.
3. The worst case: can my partner sue me for stealing idea from our co-partership
company?
Thank you very much.
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