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Propriety conflict issue among co-founders, how to get dues back
10-May-2023 (In Startup Law)
I am CTO of a startup working with my co-founders for past 18 months. Due to some mis understandings, we ll be parting our ways. The issue is that the CEO owes a lot of money to me, roughly 8-10 lakhs which doesnt seem to be happening. However at the same time being the CTO I have the entire product and codebase. The important thing here is that I have not signed a single document (offer letter, nda etc). Even during company registration they didnt include me as founding director and they didnt give me any equity at that time. Now I am in a situation where i am confused as to what extent can I use my leverage of product and code base to get my dues back.
It is unclear if there was any co-founders agreement or understanding recorded. However I recommend issuing a legal notice and taking the matter forward by negotiating in an amicable manner rather than starting a controversy.
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