Had A Fight With Business Partner - What Are My Rights?
I'm going to admit I made a big mistake by not making a tight contract in the first place, but anyway here it goes...
My 'friend' was an expert at a particular niche topic so I told him about IM and we partnered up 50/50 to create an info product. It's basically a 60 minute video course teaching something.
His role was to create content, mine was to do the IM. Basically all the work he did was stand in front of the cameras to film the product for a full day. Everything else he did was just stupid distracting tips and suggestions from a guy who doesn't know the first thing about business.
I spent around 2-3 months working pretty much everyday on creating the sales funnel, sales page, getting testimonials, creating autoresonder, editing and uploading videos, everything. He's does 1 full day of work, I've done 3 months. Yes - very stupid to go 50/50 but that's not the point.
He is the face of the business (and I'm the behind the scenes guy). Anyway after doing our first profit and loss report it turns out we're approx at a $600 loss. Breaking even on PPC but the loss is mostly from the initial investment.
Anyway I've been telling him what I've been spending pretty much everytime I purchase something and I've always been doing everything on my bank account. ANYWAY - after 3 months I decided its time for him to put his share of capital into the biz.
So I tell him to put in $290 and he went nuts. This guy is emotionally unstable and does crazy stupid things (would've been good to know BEFORE I agreed to partner with him).
He's angry at me for not informing him of the loss earlier which is right in a way, but if you understand business you know that startups cost money to invest, duh! This guy is coming from a complete employee mind frame. No biz sense at all.
Bottom line: He wants to start over from scratch and do everything himself and have me set all his sales pages and new product up. **** that. We already have a solid system in place but he can't see that.
Bottom line: I don't want to work with him, period. But I've done 95% of the work creating this info product. I KNOW it has potential to be a steady money maker.
So what I want to know is, do I have the rights to proclaim this video product as my property? (even though he is the one starring in it).
I want to keep marketing it myself and building it up because it can be a good business.
PS: I've put over $1500 of my own money into this business (on credit card!!) whilst he only put in $50 at the very start for our video to be edited.
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