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Partnership Agreement Violation

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  • 05-11-2014 5:14pm
    #1
    hoppe
    Registered Users Posts: 3 ✭


    Four people have a partnership agreement to work on a start up. The start up focused on designing and developing an online type social network. One of the main shareholders within the agreement blocked progress of the startup two years ago and nothing was further developed. Two years later that main shareholder launched her own product which is more or less identical to the one that was designed and developed to prototype stage by the remaining three partners. A lot of IP was designed and developed during the initial development. The partnership agreement was never dissolved. What are the legal stands and at what stage should we get in touch with the person who violated the agreement?
    Tagged:


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    #2
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    This wouldn't be a legal type social network would it?


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    #3
    hoppe
    Registered Users Posts: 3 ✭hoppe


    No.


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    #4
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    The legal 'stands' should be covered in your partnership agreement. To be blunt doing anything other than writing a letter saying 'Oi - what are you at' is going to require a specialist solicitor.


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    #5
    hoppe
    Registered Users Posts: 3 ✭hoppe


    There isn't anything in the legal agreement that outlines penalties in terms of violation. I suppose what I am really after is: when do I need to get in touch with the now estranged former business partner. I don't care should the business not be successful but there is a likelihood that it succeeds and then of course I want something in return for the IP we developed.


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    #6
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    hoppe wrote: »
    There isn't anything in the legal agreement that outlines penalties in terms of violation. I suppose what I am really after is: when do I need to get in touch with the now estranged former business partner. I don't care should the business not be successful but there is a likelihood that it succeeds and then of course I want something in return for the IP we developed.

    We can't give legal advice here and realistically that's what you are going to need. Practically speaking you could just bang off a letter, the first thing anyone with any idea is going to tell the person is to ignore it.


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    #7
    Pat Mustard
    Registered Users Posts: 9,554 ✭✭✭Pat Mustard


    http://www.boards.ie/vbulletin/showthread.php?p=89564540
    The Mustard wrote: »
    There was a band who was happy in the haze of a drunken hour before they became miserable as the result of bitter litigation. Now they'd much rather kick each other in the eye. pacman.gif

    https://www.youtube.com/watch?v=TjPhzgxe3L0


    Oh yeah, so my point was; get legal advice!


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