Non compete agreement
Get Legal Help Today
Secured with SHA-256 Encryption
Non compete agreement
I used to work for a company that required me to sign a non-compete agreement. It was a local own business by one owner. someone bought her out and they are now doing a 50/50 equity thing they also changed the business name and moved offices. So I am wondering since they did all of that is that contract that I signed now void if I never did sign the new one with the new name and both owner’s names?
Asked on September 28, 2016 under Business Law, South Carolina
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
The contract may well still be valid:
1) If the company had been a LLC or corporation and the buyer purchased the actual LLC or corporation, then they bought the legal entity with which you'd signed the agreement, and owning the entity with which you'd contracted--and that entity presumably still being in existence--the agreement would still be in effect.
2) Even if the business had not been an LLC or corporation--or if it had been, but the buyer did not buy the LLC or corporation, only the assets--the old company could have "assigned," or turned the agreements over to, the new company, which could have taken them on, in which case they'd still be in effect.
Without knowing more facts or specifics of this situation, it is impossible to answer your question definitively, but as discussed above, there are definitely scenarios under which you are still obligated or bound by the non-compete agreement, and you cannot simply assume it is void.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.