My question involves business law in the state of: CA
My business partner and I started up my gourmet horse treats business this past October. I have previously owned this business a few years ago on the East Coast.
I had/have the vision and ideas, the name of the business, the customer pool, 30 years in the industry and am the sole baker of the product (the treats). I agreed to a partnership because I did not have the start up costs and needed someone to do "back of house" things such as licenses, permits, legal, taxes, etc. He offered to finance the start-up costs and take care of the business end.
Long story short, he bullied his way and took over many aspects and/or made major decisions without my input. He is now asking me to leave the partnership and wants to buy my half out. I absolutely do not want him to continue the business with my vision. I have a few questions regarding options before I sign any closure documents or receive any money.
What are the options here on out for both receiving any buyout money or if I refuse it?
Is there a formula or something to decide the amount of buyout or is it just what he is offering? Is there room for negotiating if it is ridiculously low?
I have had the recipes for over 10 years. Do I have to relinquish the recipes or is it possible for him to make up his own? I don't know if he has a copy of them. If I do have to relinquish them, how much different do they need to be for my future business?
Is there a way to guarantee that he will not continue with my vision/ideas?
Is there possibly a form to sign?
I am planning on starting up this again myself with a new name as soon as possible.
I would also like my text on the website to be taken down. (Each treat flavor is inspired by a particular horse and some are my own personally owned. I do not want that up anymore).
The treats were made at my house. I have used some personal supplies for baking them. I will give him all of the business purchased things of course, does he have a right to ask for/require the personal things I have used as well?
He is very aggressive during this process and I just do not want to be taken advantage of any further. I want to cut ties and move on as soon as possible with my best interests at heart. I would greatly appreciate any advise you may have!