Question
My investor wanted to partner up instead of just investing, he hasn't met any of obligations as a partner and now I'm stuck with just 50% of my company. We didn't write up a contract so I only have a verbal (email) agreement. He wanted me to pay back the investment money if the startup didn't work.
What should I do? I can't pay back the investment (although I'd love to).
Answer
This sounds as a deja vu to me. I have been in a similar situation back in 2000, we could only solve the issue thanks to a good mediator. However every situation is different and hence your route to a solution might be different. It also depends where you are in the world that defines how an email and/or verbal agreement might be a sufficient ground for legal actions. I am not a lawyer and can not judge that.
