I did this once. We were a 3 man team and 2 of us decided to call it quits. We each got a perpetual, total licence to all the IP invented to date including copi

I did this once. We were a 3 man team and 2 of us decided to call it quits. We each got a perpetual, total licence to all the IP invented to date including copies of code (it was all software, nothing physical). We then gave a new company, which the third co-founder owned 100% of, total rights to everything. We then wound up the initial Ltd company we had formed. The third co-founder then went on to work on a pivoted version of the idea and recently got a $1m+ seed funding round. He spent well over 18 months working with new partners on that so it's 100% his success and neither of the two of us that left have any hard feelings. Ultimately, if you believe in it, stick at it. If not, walk away and realise that opportunity cost is a very real thing and hanging around for years is very expensive.