My co-founder has become discouraged with our Saas software that is at a pre-seed stage. He wants to pursue other opportunities but is not too willing to give up the 30% equity he owns, which will make getting our seed round infinitely more difficult.
Fortunately, I’ve managed to find another co-founder who believes in the product and who is willing to go dream chasing with me.
A friendship, massive naivety and inexperience led me to not having a shareholders agreement to deal with something like this with the original co-founder, and the boat to solving this amicably has passed as he is unwilling to part with his 30% unless he is paid an exorbitant fee – one which he won’t be getting.
My question is this: we are currently incorporated in the Netherlands, but the new business partner is based in Paris. If I start a new company with my new co-founder in Paris – a separate jurisdiction – will I be subject to libel claims from my original co-founder?
I will be getting legal advice I was just looking for a heads-up in advance.