My brother and I came up with an idea for a new internet company. My brother is a PhD and I am a Senior Software Engineer. Our idea is to build internet education software for niche markets overseas. We are from the Middle East and wanted to focus on that area.
I had met a guy a year ago who boasted about wanting to start an internet company with me and talked very highly about marketing and sales. My brother and I met up with him and started talking to him about our idea and he was very excited and we actually came up with a name for our website/company.
Because of obligations we weren’t able to meet again for a few months but as I looked closer at the experience of our friend with the sales and marketing background, he had failed miserably and was really no good at what he claimed he could do. He just talked really big.
In no way, shape or form do we want him part of this project any longer. We never signed any type of legal documents, all we have done is sit down at a Starbucks and discuss the possibilities for 2 hours.
Is there anything legally he can do? Was our verbal meeting over coffee binding at all?