Prior to incorporating, I was involved with a "potential" partner, it didn't work out, and now they expect a buy out. Am I obligated?
The potential partner, a lauded veteran in our industry, failed to deliver any substance to the business, and actually drove away some prospects. When he disappeared on the eve of one of our most lucrative opportunities, I decided to not include him going forward, and incorporated. He is now asking to be bought out, but he invested no money, has not had a hand in any success, and is not part of any legal documentation whatsoever.
At first blush, it appears he has no right to recovery. However, since an apparently well-versed individual is expecting this, there may be some information that has not been provided. I urge you to review all of your documentation related to this individual- conversations, actions, etc. I would then proceed to discuss the matter with a trusted contract attorney. I wish you well.