We planned on being co-founders all along, but he came in slightly later after the legal was initially done -- then it took a while longer than I hoped to raise the seed due to COVID. He wouldn't appreciate me reneging on that, especially since he's been equally integral to the business as myself.

I wasn’t suggesting reneging on the deal, just laying out the options and letting him choose.

You could consider winding up the company and starting again with a fresh company.

Thanks and agreed -- it is always best just to be honest and upfront about what options exist.