Software engineer 40+ years. Have successful business 22 years. 22 years ago a person I've been friends with for 40 years asked that I develop software for his new business. He operates his own business, operations. I operate my own business IT. I get 4% of all sales as commissions. Very simple hanshake agreement. Did that. It has been a painful but very rewarding venture. My friend has since passed but handed his business to sons. I, now 70 am trying to do the same. Business still good, good relationships, all good. Problem is I developed the softeare which has changed everyday for 22 years to the point no one can maintain it but me. It is written in languages no longer used. It is a desktop app. About 15 years ago, I had a weak moment and because in order for operations to get new contracts, they were being required to have ownership of the software. I agreed to give ownership to the operations company albeit only so they could say they owed the software. I signed something to that effect. Nothing changed except I could not say that I owed the software. For this discussion and because I do not want conflict assume I do not own the software. Operations has a big issue. Even though they own the software they would be out of business in weeks if I got hit by a bus. They know that. I am trying to remedy that by hiring help to continue the business of maintaining the software after me. I am considering spending several hundred thousands to hire expertise to do 2 things, speed up by training my hired help's expertise and help convert the desktop app to a full blown web app. The problem is that if I convert the app to a modern app it would be maintainable by persons other than myself. It accomplishes my goal but makes me vulnerable. The operations company could technically sell the company and take the software with them. I need to know that if I am willing to invest in my demise that I am somehow covered. I want to have a conversation with the operations company to resolve this. I believe the answer would be for me to get 51% ownership of the software. Asking for advice, how to proceed. Ask any questions you deem necessary. Thanks
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