[bootdaddy]

Exactly! Get with an attorney quick. Other option is to find funding and buy him out now. Sometimes investors like stepping in where there is a shakeup, they feel like a savior, get more equity and presumably, control. If you can do this, part of the deal will be the full release agreement along with ip assignment.

[tommartin12]

At this early stage of a startup before we have scaled, the leaving of a co-founder is likely a bad signal that would scare away any investors.