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This is a breach of fiduciary duties. Maybe OP can get away with it for some time, but if the new venture goes well, it will be very ugly.

Better for all the worthwhile people to resign and start a new entity with no IP overlap with the old one. It still might get ugly down the road but OP will be in a much better position to defend.

If the CTO has really been that bad, then I don't see much downside to a fresh start.

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I disagree about it being a breach of fiduciary duty. The company can’t move forward with this carbuncle, and the CTO still gets their equity respected in the form of the licensing deal. A suicide pact would be an inferior execution of fiduciary duty.

Fresh start is likely not an option. You forget about the IP and assets of the company. Can’t take those with you in a fresh start and OP and his investor has a lot of sunk cost here.

You rarely fail to miss the point

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