question for the business savvy traders

[maler]

Agree, in the end it was a win win.
Nothing left but move along to better pastures.

Quote from icarus618:

Sounds to me the guy with the strategy got the benefit of the bargain.

Maybe he should be thanking the other party rather than looking for "recourse."

 

[maler]

Just to clarify, the split between the partners was close to 50/50.
1/20 was the advisor's fee, which is pretty standard.
(1% of assets under management and
a performance fee of 20% of returns subject to watermarks).

Quote from icarus618:

So what exactly is the complaint, that the terms of the agreement are unconscionable? LOL

Why would the guy with the "strategy" agree to such an arrangement if he thought it was worth anything?

1/20 of the fees and no control over anything and a specific provision giving the other party sole power to end the venture at any time. The aggrieved party can claim that the managing member did not act in good faith, but that's a stretch. Besides, what is he claiming are his damages? They would be nearly impossible to prove, if he even has any.