I am a co founder of two sole proprietor firms which are currently registered in other co founders name. We are the only two founders of these firms.
Since he invested in the beginning and two years window was given for me to invest with the condition of at the cost value. If I invest after two years then I have to invest at market value of the firm. We registered it as sole proprietorship firms in his name. One firm is a training institute and another one is digital marketing services firm.
It's almost two years now. I have not entered into any sort of legal agreement and I don't even have any document to proove my association with the firm. We are still loss making firms still am ready to invest now.
But I feel he is trying to involve many more conditions and trying to make me hesitant to invest.
I need a suggestion how to protect myself with the base condition we agreed and what I should do to prove that I am also one of the founder and contributor for the growth of organisation.
From India, Bengaluru