Until a couple of months back, I, along with two others, had a startup which was doing pretty good. But due to a pretty bad fall out between the founders, we split. I was literally ousted from the Company, forcibly. But they were unable to continue without me. So the Company was shut down. We have gone our separate ways. After many months now, I was asked by someone if I would sell the business ‘plan’. Except the website (created by the other co-founder) I have the other stuff like the huge data collected, plan, customer contacts etc. What should I do?
Questions
Should I sell my business idea?
3 answers from the community
A· Apr 4, 2014
Probably not legal unless you did it on the sly. Clue in the other founder and split the result, or you will likely get sued.
A· Apr 4, 2014
Reputations takes years to build and seconds to light on fire. Think long term on this one.
A· Apr 4, 2014
If you were ousted you are free to start a competing business.. If the contacts were personal it would be ethical to use them. If it belonged to the company you should work something out with the other founder. Same with data. Unless you're planning to use that as insight which is fair game.