Many thanks, this is becoming clearer.
There is a final piece of this that is concerning me. Yesterday, the director of venture 2 who stated he may lay a claim to venture 1, has endorsed that my business partner for venture one and I, may work entirely on venture 1 for the next 6 months, whilst the other 2 directors work entirely on venture 2.
Do you think, by endorsing and encouraging us to do this, it is an attempt by him to strengthen his claim on a share of venture 1?
If you do, what course of action do you recommend? I would rather resign from venture 2, than risk strengthening his claim to venture 1 by me working on venture 1 for the next 6 months, whilst still being a part of venture 2. Or should we get the other venture 1 directors to sign something which states that venture 1 pre-existed and they can lay no claim to any part of it?
One last thing which may be important. The 3rd venture 2 director involved in this, said yesterday that he knew 'venture 1 was not venture 2's idea and that it pre-dated my venture 1 partner becoming a director of venture 2. There were no witnesses to this statement, however I immediately recorded exactly what was said, signed it and emailed the statement to myself to record what was said by whom and when.