> Maybe I’m missing something.
That the entity was never capitalized and the 60% founder paid for the app development out of his own pocket and plans to just reincorporate another entity and sell the app that way
That the entity was never capitalized and the 60% founder paid for the app development out of his own pocket and plans to just reincorporate another entity and sell the app that way
Anyway, to echo other people: This is why you use clear contracts and try to deviate from the norm on these things only when you have to. Because otherwise disagreements become complex and expensive to resolve.
If the original company has any value to Jim, then you two should come to some reasonable agreement to settle the matter in a way that's acceptable to both of you.