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Go Back   Law Forums at Onlypunjab.com > BUSINESS AND FINANCIAL LAW > Business- Starting & Operating Principles.

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  #1  
Old 08-30-2006, 11:43 AM
noriah noriah is offline
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Join Date: Aug 2006
Posts: 1
Default buy-sell....

hello members,
My partners and i are contemplating to buy sell to each other in 2 ways:
1. Sell to market.
2. She buy me out.
but partner claims that if She buys me out, i cannot compete in the market place whether directly or indirectly. Is there a law such as this?
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  #2  
Old 08-30-2006, 11:45 AM
Sierra Sierra is offline
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Join Date: Apr 2006
Posts: 139
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No, there is no such "law." She may demand a non-compete agreement as part of the buy out package, but it is not required by law, and all non-compete agreement need to be narrowly drafted to comply with your local statutory and caselaw.
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  #3  
Old 01-23-2007, 10:39 AM
gina2000 gina2000 is offline
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Join Date: Jan 2007
Posts: 7
Default Great Idea

Great Idea
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