I have a partner who did not do what he said he would do. Now he has equity but is uninvolved. What do I do? I'm really wondering if I should just dissolve the company and start a new one, but worried of the legality of this. Not looking to spend $10,000+ on legal fees to challenge their equity shares.
Are the expectations originally outlined realistic? If your equity partner's responsibility is to deliver customers, but he's finding that there is minimal desire for your product/service, his ability to deliver is hampered.
I suggest a non-judgemental conversation where you discuss what, if any, obstacles he is encountering or if his interest in your company mission has changed. Often equity partnerships can be dissolved amicably, but do invest money to do so legally. You do not want to hold future earnings hostage.