Setting up to purchase software IP from slacking partner, any advice please? He's open to it, want to cover all bases...
I'm the third wheel here, my business partner was 50/50 In a prior business. He did all the coding and his slacking partner never pulled the weight. The option is now on the table to cut him out and bring that IP into our venture.
I want to make sure that I'm covering all bases with the approach here, the price seems very reasonable. The market in question is in fluctuation right now and the avg number of monthly sales are declining because the product has been stagnant.
However we retain all the skill set to bring the product back to life and also a vehicle to carry sales into the stratosphere. I would love any and all advice on how to best approach something like this. Company name and Branding will stay with the other partner, we will absorb all code IP, and software names.