I should have read up on founder equity vesting before starting but I didn’t so I’m here I am.
We started the company 6 months back and did not talk about equity – we were so excited about the idea we just decided to incorporate the company and start it.
Now the co-founder has taken a full time job and wants to work on this part time or not being involved at all. Since I’m full time I broached the equity subject. He says he’s entitled to 50% of the company since we both started it together. I’ve tried sending him articles about founder equity vesting and he’s just digging in his heels.
I’ve threatened to quit the company since we’ll both get nothing and he says he doesn’t care. I don’t think starting a new company doing the exact same idea just to “start fresh” is legal or ethical so I’m wondering if anyone else has found a solution to this bad situation? We have a few businesses who have given us some money so I’m hesitant to screw them by walking away too.