Thanks for the advice!

I want to clear up something here that I might have not made clear in the original post...

Neither of us actually agreed to that condition, it was something he brought up when we were going over the founders agreement section about one founder leaving before a company is formed.

I was explaining to him what mutual separation of assets meant, and he told me that he thought the person leaving should give the person staying rights to everything. We ended up disagreeing on this, and we left it in the founders agreement as "mutual separation of assets".

So to be clear, I never agreed to work under those terms, and he never brought it up again, because we both saw a lot of issues with that.

I just wanted to bring it up because I wanted to know what others thought.