A partnership minted in gold is now sour ... what to do
So me and a "friend" have been discussing business for a good 2 years now... I have good instinct, and Ive been considering ideas he's thrown my way the whole time through... Im older than him (he's early 20's, Im about to be 31, with a young soul... I understand the importance of having a partner, and he has an engine on him and is a "go getter", a good counterpart to myself, so we seemed to make a good team...) Anyway, ...
idea are useless. Execution is everything. Words dont mean a thing if u arent putting in any work. Base on what u written so far, he did almost everything and u just gave feed backs.
Now if u did the work too and he's trying to kick u off b/c of greed than that's a whole different story.
Anyway gl, there a good lesson in everything and dont feel too bad.
Here is the full question.
So me and a "friend" have been discussing business for a good 2 years now... I have good instinct, and Ive been considering ideas he's thrown my way the whole time through... Im older than him (he's early 20's, Im about to be 31, with a young soul... I understand the importance of having a partner, and he has an engine on him and is a "go getter", a good counterpart to myself, so we seemed to make a good team...) Anyway, we pitch ideas back and forth, fully understanding that WE are trying to "get rich" etc, when finally, he mentions an idea that rings bells with me... Good basic idea, and I instantly think "patent" and a few things that are necessary to actually make it work... I tell him "this is a good one", vs all the other ideas, and that we should run with it, so we start to build on the idea...
Time progresses, he begins to look for funding, being the "extrovert" he is, having a pretty big network to begin with... I know what has to get done, in what order (funding, software dev., patent...) so I kind of sit back as he looks for said funding... He secures SOME funding, and then starts talking to developers, kind of "leaving me in the background"... It was his initial idea, I added to it here and there, as we discussed and developed it over a month or so... Now, he wants to push me out, saying "I have no experience/Im not doing enough" etc, while going with one of the developers as a "founder"... I have literal multiple hour long conversations recorded where were discussing/developing ideas, and I made and published a video a while back, discussing the basic system, to protect it from anybody else trying to patent it... Anyway: what should I do???
I think our relationship may be spoiled to the point that it cant be salvaged... The business idea WAS a good idea, with a lot of profit potential... I was expecting to get on any patents as a co-inventor, but now he wants to say that "he had the whole idea the whole time", EVEN THOUGH I have recordings of us disscussing this (I've been fucked over before, so I think in these situations...) Should I sue?? Can my published video with the general idea keep HIM from patenting it himself??? Or should I try to salvage the relationship and keep on?? He says if I get investors, we can talk, but I don't even know... We were CLEARLY in it together, and then he said "You didnt seem very interested" , despite literal 8 hour discussions every other night... Just poor character.. What do you think I should do???
Put it this way: there will be no company if there is no patent, and I think I can already play defense on that... The ideas ARE worth something...
The idea is indeed worth something, but very little without execution. Are you willing to put down 5000$ to register your patent? And then what will you do? Will you go out and get funding and find developers to execute your idea? If you can do that then why didn’t you do it together with your friend? If not, then what’s the point of registering the patent? Just so no one else can do it and your good idea will never see the light of day?
Careful about lording that patent over him, if I where him I’d find a way to refine and reinvent the initial idea to leave you with even less.
It reads like you are a sound board for someone with potential but he has now found his feet and grown. You need to be sprinting to stand still in start ups so why not make ur self as valuable as possible in operations and the like to learn all you can. That is if you’re genuinely interested in the journey.
A little bit of something is better than all of nothing.
You could take this ride and grow or sit bitter in sorrow if you are looking to change your circumstances that is. If not then chill out and get off the ride.
I wish you all the best.
I'm going to give you some perspective and I don't think you'll like it. But it is honest.
The idea is worth nothing, it is all in the execution.
So far he has secured funding and is currently managing a team of developers to build out the idea he had.
What exactly do you bring to the table? If you cannot build or sell, there isn't much room for you in a brand new company.
You don't seem to have development skills, otherwise, you would be helping there.
Can you sell? Seems like your friend is the go-getter extroverted salesman.
And since your friend is relying on outside investors, I'll hazard a guess you haven't put in any money, either?
Having 8 hour long discussions every other night is worth very little, to be frank. Early companies need to be very lean to even have a shot at survival. The failure rate is very high. If you're not bringing anything to the table, and you haven't signed anything, you shouldn't really have a seat at it.
Question asked by
June 23, 2020 at 12:26:43 PM