We have started a business and have actually completed the incorporation (California) process with another 50% shareholder. This other individual agreed to bring in an amount of cash while I brought the product idea. The legal doc’s never outlined his cash contribution and I have since declined to sign a buy-sell agreement. This individual has already invested over 50% of the money (over a few month period)promised but has also begun to try and take over. Personal conflicts have taken place and it is clear that this relationship must end. This person has invested very little time to the product as far as intellectual property is concerned. Despite financial hardship, I would like to attempt to pay him back and keep the corp. (if possible). If he chooses to fight, I was wondering what kind of damages I can expect.
